Cary Street Partners Financial LLC Buys New Shares in PPG Industries, Inc. (NYSE:PPG)

Cary Street Partners Financial LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,621 shares of the specialty chemicals company's stock, valued at approximately $1,746,000.

Other institutional investors also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter worth $27,000. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the 4th quarter worth about $36,000. Albion Financial Group UT purchased a new stake in PPG Industries during the fourth quarter valued at about $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the fourth quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of PPG Industries in the fourth quarter worth approximately $44,000. Institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PPG shares. Royal Bank of Canada raised their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.83.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

PPG Industries Trading Down 1.4 %

NYSE:PPG opened at $108.69 on Wednesday. The company has a market capitalization of $24.67 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.19 and a beta of 1.20. The stock's 50 day moving average price is $106.77 and its 200 day moving average price is $115.99. 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, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. PPG Industries's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 EPS. On average, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.50%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

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.

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