Archer Investment Corp Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Archer Investment Corp purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,158 shares of the specialty chemicals company’s stock, valued at approximately $286,000.

Other large investors have also recently modified their holdings of the company. Vest Financial LLC raised its stake in PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after buying an additional 75,620 shares in the last quarter. BDF Gestion purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $3,452,000. Vanguard Group Inc. boosted its stake in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $604,000. Finally, Swedbank AB boosted its stake in shares of PPG Industries by 6.3% during the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after acquiring an additional 9,412 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other 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 transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.2 %

Shares of PPG Industries stock traded down $0.21 during trading on Friday, hitting $123.31. 109,226 shares of the stock were exchanged, compared to its average volume of 1,580,620. The stock has a market cap of $28.61 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The firm’s 50-day moving average price is $127.42 and its 200 day moving average price is $127.87. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.21%. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

PPG has been the topic of several recent analyst reports. Mizuho lowered their target price 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. Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, KeyCorp lowered their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $149.93.

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.