Mach 1 Financial Group LLC Has $2.07 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Mach 1 Financial Group LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 52.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,814 shares of the specialty chemicals company's stock after selling 14,972 shares during the quarter. Mach 1 Financial Group LLC's holdings in PPG Industries were worth $2,066,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PPG. OFI Invest Asset Management acquired a new position in PPG Industries in the 3rd quarter valued at approximately $25,000. Valued Wealth Advisors LLC acquired a new position in PPG Industries in the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. increased its stake in PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company's stock valued at $27,000 after buying an additional 153 shares during the period. CVA Family Office LLC acquired a new position in PPG Industries in the 4th quarter valued at approximately $28,000. Finally, Financial Connections Group Inc. acquired a new position in PPG Industries in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Seaport Res Ptn raised shares of PPG Industries from a "neutral" rating to a "buy" rating in a research report on Monday, April 22nd. BMO Capital Markets decreased their target price on shares of PPG Industries from $168.00 to $165.00 and set an "outperform" rating for the company in a research report on Tuesday, April 23rd. StockNews.com raised shares of PPG Industries from a "hold" rating to a "buy" rating in a research report on Tuesday. Vertical Research raised shares of PPG Industries from a "hold" rating to a "buy" rating in a research report on Wednesday, January 3rd. Finally, Evercore ISI downgraded shares of PPG Industries from an "outperform" rating to an "in-line" rating and set a $152.00 target price for the company. in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.47.

PPG Industries Price Performance

Shares of NYSE PPG traded down $1.74 during trading on Tuesday, reaching $129.00. The company had a trading volume of 1,957,647 shares, compared to its average volume of 1,780,763. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The stock has a market cap of $30.25 billion, a PE ratio of 21.79, a PEG ratio of 1.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The business's 50 day moving average price is $138.84 and its 200-day moving average price is $138.97.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts' consensus estimates of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm posted $1.82 earnings per share. The company's revenue was down 1.6% on a year-over-year basis. Analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries's dividend payout ratio is presently 43.92%.

PPG Industries announced that its Board of Directors has approved a stock repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company's stock.

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.

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