PPG Industries, Inc. (NYSE:PPG) Shares Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,864 shares of the specialty chemicals company’s stock after acquiring an additional 310 shares during the quarter. Perigon Wealth Management LLC’s holdings in PPG Industries were worth $279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of PPG Industries by 1.3% in the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after buying an additional 252,358 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PPG Industries by 2.2% in the first quarter. Geode Capital Management LLC now owns 4,854,892 shares of the specialty chemicals company’s stock worth $647,037,000 after buying an additional 106,294 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of PPG Industries by 163,082.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after buying an additional 4,155,341 shares during the period. Invesco Ltd. boosted its holdings in shares of PPG Industries by 41.1% in the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after buying an additional 959,849 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of PPG Industries by 2.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock worth $418,589,000 after buying an additional 65,996 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPG. Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Wolfe Research started coverage on shares of PPG Industries in a report on Friday, March 1st. They set a “peer perform” rating for the company. Barclays cut shares of PPG Industries from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $163.00 to $149.00 in a report on Tuesday, February 27th. Robert W. Baird restated an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. Finally, KeyCorp decreased their price target on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $158.40.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by corporate insiders.

PPG Industries Price Performance

NYSE PPG opened at $133.52 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $31.43 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company has a 50 day moving average price of $140.69 and a two-hundred day moving average price of $138.93. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89.

PPG Industries (NYSE:PPG) last posted its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. As a group, equities analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Thursday, February 15th. PPG Industries’s payout ratio is 48.69%.

PPG Industries Company 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.