Quest Partners LLC Grows Stock Position in PPG Industries, Inc. (NYSE:PPG)

Quest Partners LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 90.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,179 shares of the specialty chemicals company’s stock after buying an additional 2,455 shares during the period. Quest Partners LLC’s holdings in PPG Industries were worth $686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PPG. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries in the second quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the 3rd quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in PPG Industries during the 2nd quarter worth approximately $37,000. Hara Capital LLC purchased a new position in shares of PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on PPG. Mizuho cut their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

NYSE PPG opened at $122.65 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The business has a fifty day moving average of $127.00 and a 200-day moving average of $127.49. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. As a group, analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.22%. PPG Industries’s payout ratio is currently 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.