Foguth Wealth Management LLC. Acquires New Position in PPG Industries, Inc. (NYSE:PPG)

Foguth Wealth Management LLC. acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,454 shares of the specialty chemicals company’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently modified their holdings of the company. Vicus Capital purchased a new stake in shares of PPG Industries in the first quarter valued at about $332,000. Grimes & Company Inc. lifted its position in PPG Industries by 13.5% in the first quarter. Grimes & Company Inc. now owns 1,551 shares of the specialty chemicals company’s stock valued at $225,000 after buying an additional 184 shares during the last quarter. Independence Bank of Kentucky lifted its position in PPG Industries by 534.5% in the first quarter. Independence Bank of Kentucky now owns 2,760 shares of the specialty chemicals company’s stock valued at $400,000 after buying an additional 2,325 shares during the last quarter. Norris Perne & French LLP MI acquired a new position in PPG Industries in the first quarter valued at about $216,000. Finally, Procyon Advisors LLC lifted its position in PPG Industries by 2.3% in the first quarter. Procyon Advisors LLC now owns 21,908 shares of the specialty chemicals company’s stock valued at $3,175,000 after buying an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. BMO Capital Markets decreased their target price on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 23rd. Evercore ISI cut shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a research report on Monday, April 22nd. Citigroup reduced their price target on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Finally, KeyCorp reduced their price target on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.47.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish purchased 2,061 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Stock Up 0.8 %

NYSE:PPG traded up $0.99 during mid-day trading on Friday, hitting $125.89. The stock had a trading volume of 2,585,591 shares, compared to its average volume of 1,493,101. The stock has a 50-day simple moving average of $130.76 and a two-hundred day simple moving average of $138.40. The company has a market capitalization of $29.52 billion, a PE ratio of 21.27, a PEG ratio of 1.55 and a beta of 1.28. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.82 earnings per share. On average, equities research analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were paid a $0.65 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 2.07%. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries declared that its Board of Directors has approved a share repurchase plan on Thursday, April 18th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

PPG Industries Profile

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.