G&S Capital LLC Buys 106 Shares of PPG Industries, Inc. (NYSE:PPG)

G&S Capital LLC lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,773 shares of the specialty chemicals company’s stock after buying an additional 106 shares during the quarter. G&S Capital LLC’s holdings in PPG Industries were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Riverview Trust Co bought a new position in shares of PPG Industries in the first quarter valued at about $34,000. &PARTNERS bought a new stake in PPG Industries during the 1st quarter worth about $563,000. Gulf International Bank UK Ltd raised its holdings in PPG Industries by 0.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 19,439 shares of the specialty chemicals company’s stock worth $2,816,000 after purchasing an additional 140 shares during the last quarter. Marcum Wealth LLC raised its holdings in PPG Industries by 11.4% during the 1st quarter. Marcum Wealth LLC now owns 2,465 shares of the specialty chemicals company’s stock worth $357,000 after purchasing an additional 253 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in PPG Industries by 7.8% during the 1st quarter. Park Avenue Securities LLC now owns 5,611 shares of the specialty chemicals company’s stock worth $813,000 after purchasing an additional 406 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the purchase, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of several recent research reports. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. Citigroup dropped their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price for the company. in a research report on Monday, April 22nd. Finally, Royal Bank of Canada decreased their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.47.

PPG Industries Price Performance

Shares of PPG opened at $125.24 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The stock has a 50 day simple moving average of $131.26 and a 200 day simple moving average of $138.77. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The firm has a market capitalization of $29.37 billion, a PE ratio of 21.16, a P/E/G ratio of 1.55 and a beta of 1.28.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries announced that its Board of Directors has initiated a share repurchase program 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 reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.08%. The ex-dividend date was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

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.