Riverview Trust Co Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Riverview Trust Co acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 238 shares of the specialty chemicals company’s stock, valued at approximately $34,000.

A number of other institutional investors have also added to or reduced their stakes in PPG. Wedmont Private Capital raised its holdings in shares of PPG Industries by 2.9% during the 4th quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock worth $363,000 after acquiring an additional 70 shares in the last quarter. Barrett & Company Inc. raised its holdings in shares of PPG Industries by 10.6% during the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock worth $114,000 after acquiring an additional 73 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in shares of PPG Industries by 38.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 76 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in PPG Industries by 2.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock valued at $526,000 after buying an additional 78 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its holdings in PPG Industries by 20.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock valued at $69,000 after buying an additional 80 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish acquired 2,061 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PPG. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Citigroup decreased their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Bank of America decreased their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Price Performance

PPG opened at $125.23 on Wednesday. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-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. The business’s fifty day simple moving average is $131.26 and its 200-day simple moving average is $138.77. The company has a market capitalization of $29.37 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.59 and a beta of 1.28.

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

PPG Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is currently 43.92%.

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.