9,163 PPG Industries, Inc. $PPG Shares Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 142.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,612 shares of the specialty chemicals company’s stock after acquiring an additional 9,163 shares during the period. Chicago Partners Investment Group LLC’s holdings in PPG Industries were worth $1,727,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in PPG Industries during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of PPG Industries during the second quarter valued at about $28,000. Community Bank N.A. acquired a new stake in shares of PPG Industries during the second quarter valued at about $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of PPG Industries during the second quarter valued at about $29,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a report on Monday, September 14th. JPMorgan Chase & Co. lifted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Citigroup lifted their target price on shares of PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Barclays boosted their target price on PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $122.51 on Friday. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.15. The business has a 50-day moving average of $109.79 and a 200 day moving average of $112.85. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.28 billion. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be issued a $0.74 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. PPG Industries’s payout ratio is 42.29%.

Insider Buying and Selling at PPG Industries

In related news, VP Chancey Hagerty sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the sale, the vice president directly owned 9,761 shares of the company’s stock, valued at $1,241,013.54. This represents a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

PPG Industries Profile

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.