Prospera Private Wealth LLC Purchases Shares of 1,298 PPG Industries, Inc. (NYSE:PPG)

Prospera Private Wealth LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,298 shares of the specialty chemicals company’s stock, valued at approximately $172,000.

A number of other institutional investors have also recently made changes to their positions in PPG. Insight Folios Inc lifted its stake in shares of PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC lifted its stake in shares of PPG Industries by 2.6% in the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares during the period. Fragasso Financial Advisors Inc lifted its stake in shares of PPG Industries by 0.6% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its stake in shares of PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPG. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Mizuho dropped their price target on 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 raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Trading Up 0.2 %

NYSE PPG opened at $121.29 on Thursday. The stock’s 50-day simple moving average is $127.14 and its two-hundred day simple moving average is $127.59. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $28.14 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business earned $2.07 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.24%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.