Parr Mcknight Wealth Management Group LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,656 shares of the specialty chemicals company's stock, valued at approximately $1,631,000.

Other hedge funds also recently made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new position in PPG Industries in the fourth quarter valued at approximately $36,000. Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust bought a new position in PPG Industries in the fourth quarter valued at about $42,000. Millstone Evans Group LLC acquired a new position in PPG Industries during the fourth quarter worth about $46,000. Finally, Human Investing LLC bought a new position in shares of PPG Industries in the fourth quarter worth about $48,000. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PPG. UBS Group upped their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Citigroup cut their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company upped their target price on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Royal Bank of Canada lifted their price target on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.42.

PPG Industries Trading Down 0.7%

PPG stock traded down $0.78 during trading on Wednesday, hitting $111.49. The company had a trading volume of 271,179 shares, compared to its average volume of 1,818,477. The stock has a market cap of $25.31 billion, a PE ratio of 23.60, a PEG ratio of 2.19 and a beta of 1.20. The business has a 50-day moving average of $106.34 and a 200-day moving average of $114.48. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.44%. PPG Industries's payout ratio is currently 58.24%.

PPG Industries 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.