PPG Industries, Inc. $PPG Stock: Chicago Partners Investment Group LLC Grows Position

Chicago Partners Investment Group LLC lifted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 142.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,612 shares of the specialty chemicals company's stock after acquiring an additional 9,163 shares during the period. Chicago Partners Investment Group LLC's holdings in PPG Industries were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in PPG Industries in the 2nd quarter valued at $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of PPG Industries during the second quarter worth $28,000. Community Bank N.A. purchased a new stake in shares of PPG Industries during the second quarter worth $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the second quarter worth $29,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of PPG Industries in the second quarter valued at about $30,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.6%

Shares of PPG stock opened at $122.51 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company's 50-day moving average price is $109.79 and its 200-day moving average price is $112.85. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.11 and a beta of 1.00.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The firm had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.28 billion. During the same period last year, the business earned $2.13 earnings per share. PPG Industries's revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts predict that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. PPG Industries's dividend payout ratio (DPR) is currently 42.29%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PPG shares. Wells Fargo & Company boosted their price target on shares of PPG Industries from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Thursday, October 29th. Barclays raised their target price on shares of PPG Industries from $136.00 to $137.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. The Goldman Sachs Group restated a "buy" rating and set a $128.00 target price on shares of PPG Industries in a report on Friday, October 9th. KeyCorp upped their price target on PPG Industries from $128.00 to $131.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $137.00 price target on shares of PPG Industries in a report on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.29.

Insider Activity

In other news, VP Chancey Hagerty sold 2,500 shares of PPG Industries stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the sale, the vice president owned 9,761 shares of the company's stock, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

About PPG Industries

PPG Industries, Inc is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania.

PPG's products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.

The company serves customers in markets around the world, including through operations in the Americas, Europe, the Middle East, Africa and Asia Pacific.

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