StrongBox Wealth LLC Makes New $624,000 Investment in PPG Industries, Inc. $PPG

StrongBox Wealth LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,980 shares of the specialty chemicals company’s stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Chicago Partners Investment Group LLC boosted its stake in PPG Industries by 142.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 15,612 shares of the specialty chemicals company’s stock valued at $1,727,000 after purchasing an additional 9,163 shares during the period. Sound Financial Strategies Group LLC acquired a new stake in PPG Industries in the 3rd quarter valued at approximately $330,000. Rakuten Investment Management Inc. grew its holdings in PPG Industries by 9.4% in the 3rd quarter. Rakuten Investment Management Inc. now owns 39,939 shares of the specialty chemicals company’s stock valued at $4,234,000 after buying an additional 3,430 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in PPG Industries in the 3rd quarter worth approximately $112,000. Finally, Greenleaf Trust increased its position in PPG Industries by 30.6% in the 3rd quarter. Greenleaf Trust now owns 3,444 shares of the specialty chemicals company’s stock worth $359,000 after buying an additional 807 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

PPG Industries Price Performance

NYSE:PPG opened at $123.42 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The firm has a market cap of $27.26 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company’s 50-day moving average price is $109.61 and its two-hundred day moving average price is $112.78.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. PPG Industries’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 earnings per share. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.98 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on PPG shares. 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 report on Friday, July 17th. Citigroup raised their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. UBS Group boosted their target price on shares of PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Barclays upped their target price on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.