PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Stephens Inc. AR

Stephens Inc. AR boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,534 shares of the specialty chemicals company’s stock after purchasing an additional 409 shares during the period. Stephens Inc. AR’s holdings in PPG Industries were worth $1,528,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PPG. Pinnacle Associates Ltd. raised its position in PPG Industries by 15.2% during the third quarter. Pinnacle Associates Ltd. now owns 2,224 shares of the specialty chemicals company’s stock valued at $295,000 after acquiring an additional 293 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in shares of PPG Industries by 14.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 17,828 shares of the specialty chemicals company’s stock valued at $2,362,000 after purchasing an additional 2,232 shares in the last quarter. Farmers & Merchants Investments Inc. raised its holdings in PPG Industries by 19.1% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 20,048 shares of the specialty chemicals company’s stock worth $2,656,000 after purchasing an additional 3,209 shares during the period. abrdn plc boosted its position in PPG Industries by 1.1% during the third quarter. abrdn plc now owns 266,825 shares of the specialty chemicals company’s stock worth $35,194,000 after purchasing an additional 2,894 shares in the last quarter. Finally, Insight Folios Inc grew its holdings in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PPG shares. UBS Group lifted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays decreased their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho lowered their target price 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, Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is owned by company insiders.

PPG Industries Stock Performance

NYSE:PPG opened at $124.86 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a 50 day moving average price of $127.94 and a 200 day moving average price of $128.16. The stock has a market capitalization of $28.97 billion, a P/E ratio of 19.79, a PEG ratio of 1.90 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

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

PPG Industries Dividend Announcement

The firm also recently declared 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 2.18%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

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.