13,656 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Parr Mcknight Wealth Management Group LLC

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

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual Advisors LLC grew its position in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after acquiring an additional 92 shares during the last quarter. LRI Investments LLC boosted its stake in PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 92 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock worth $51,000 after purchasing an additional 95 shares during the last quarter. Kingsview Wealth Management LLC grew its position in PPG Industries by 1.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock worth $990,000 after purchasing an additional 103 shares during the last quarter. Finally, Sachetta LLC increased its stake in PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock valued at $81,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Bank of America reaffirmed a "neutral" rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Royal Bank of Canada lifted their target price 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. Deutsche Bank Aktiengesellschaft upped their price target on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Argus lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.42.

PPG Industries Price Performance

PPG Industries stock traded up $2.14 during midday trading on Tuesday, reaching $112.22. The company's stock had a trading volume of 1,255,031 shares, compared to its average volume of 1,824,534. The firm has a market capitalization of $25.47 billion, a PE ratio of 23.73, a P/E/G ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The stock's 50 day simple moving average is $106.32 and its 200 day simple moving average is $114.50. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.87 earnings per share. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend 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.