PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. raised its position in PPG Industries, Inc. (NYSE:PPG) by 465.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 243 shares of the specialty chemicals company’s stock after buying an additional 200 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in PPG Industries were worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Financial Connections Group Inc. purchased a new position in PPG Industries during the 2nd quarter worth $25,000. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at approximately $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of PPG Industries during the third quarter worth approximately $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on PPG. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Price Performance

NYSE PPG traded up $0.10 during trading hours on Thursday, reaching $123.45. The company’s stock had a trading volume of 984,876 shares, compared to its average volume of 1,577,226. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a market cap of $28.64 billion, a PE ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company’s 50-day moving average is $126.80 and its two-hundred day moving average is $127.22.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm posted $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.