Foster & Motley Inc. Buys New Position in PPG Industries, Inc. (NYSE:PPG)

Foster & Motley Inc. bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,588 shares of the specialty chemicals company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Radnor Capital Management LLC bought a new position in shares of PPG Industries in the 3rd quarter worth about $1,223,000. Hixon Zuercher LLC bought a new stake in PPG Industries in the third quarter worth approximately $2,162,000. Sentry Investment Management LLC lifted its stake in PPG Industries by 92.8% in the third quarter. Sentry Investment Management LLC now owns 1,120 shares of the specialty chemicals company’s stock valued at $148,000 after buying an additional 539 shares during the period. Central Bank & Trust Co. boosted its holdings in shares of PPG Industries by 402.4% during the 3rd quarter. Central Bank & Trust Co. now owns 6,567 shares of the specialty chemicals company’s stock worth $870,000 after buying an additional 5,260 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of PPG Industries during the 3rd quarter worth approximately $89,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $125.58 on Friday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a market cap of $29.13 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.92 and a beta of 1.26. The firm has a 50-day moving average of $127.72 and a 200-day moving average of $128.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPG. UBS Group increased their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

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.