PFG Investments LLC Sells 159 Shares of PPG Industries, Inc. (NYSE:PPG)

PFG Investments LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,989 shares of the specialty chemicals company’s stock after selling 159 shares during the quarter. PFG Investments LLC’s holdings in PPG Industries were worth $263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC bought a new stake in shares of PPG Industries in the first quarter worth $252,000. Private Advisor Group LLC increased its position in shares of PPG Industries by 4.0% during the 1st quarter. Private Advisor Group LLC now owns 10,463 shares of the specialty chemicals company’s stock valued at $1,516,000 after purchasing an additional 407 shares during the last quarter. Tanager Wealth Management LLP bought a new position in shares of PPG Industries in the 1st quarter worth approximately $315,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of PPG Industries by 34.2% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,772 shares of the specialty chemicals company’s stock worth $1,996,000 after buying an additional 3,510 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in PPG Industries during the first quarter valued at approximately $132,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG opened at $125.65 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $29.15 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.93 and a beta of 1.26. The company has a fifty day moving average of $128.04 and a 200 day moving average of $128.42. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the business earned $2.07 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. KeyCorp cut their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, UBS Group boosted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $149.93.

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.