PUREfi Wealth LLC Takes $279,000 Position in PPG Industries, Inc. (NYSE:PPG)

PUREfi Wealth LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,336 shares of the specialty chemicals company’s stock, valued at approximately $279,000.

Other institutional investors have also recently made changes to their positions in the company. PFW Advisors LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $868,000. Equity Investment Corp lifted its stake in shares of PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after purchasing an additional 42,380 shares during the period. JGP Wealth Management LLC bought a new position in shares of PPG Industries in the 4th quarter worth approximately $4,050,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, Avanza Fonder AB bought a new position in shares of PPG Industries in the 4th quarter worth approximately $2,944,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $117.75 on Friday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company’s fifty day moving average price is $119.18 and its 200-day moving average price is $123.54. 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 has a market capitalization of $27.32 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. 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 research note on Monday, October 21st. Barclays lowered their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada decreased their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

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.