Koshinski Asset Management Inc. Takes Position in PPG Industries, Inc. (NYSE:PPG)

Koshinski Asset Management Inc. bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,658 shares of the specialty chemicals company’s stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Exchange Traded Concepts LLC increased its stake in shares of PPG Industries by 156.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 707 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of PPG Industries during the 3rd quarter valued at $604,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in PPG Industries by 237.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,498 shares of the specialty chemicals company’s stock worth $198,000 after buying an additional 1,054 shares during the period. USA Financial Formulas purchased a new stake in PPG Industries in the 3rd quarter worth $76,000. Finally, Bruce G. Allen Investments LLC raised its holdings in PPG Industries by 14.5% during the third quarter. Bruce G. Allen Investments LLC now owns 1,092 shares of the specialty chemicals company’s stock valued at $145,000 after acquiring an additional 138 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 1.1 %

PPG opened at $129.91 on Wednesday. The stock has a 50-day moving average of $126.49 and a 200 day moving average of $129.25. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The firm has a market cap of $30.46 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.25 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.09%. PPG Industries’s payout ratio is 45.95%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. KeyCorp cut their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. UBS Group boosted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America reduced their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

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.