Partnership Wealth Management LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Partnership Wealth Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,000 shares of the specialty chemicals company's stock, valued at approximately $1,410,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. J.W. Cole Advisors Inc. lifted its stake in shares of PPG Industries by 6.7% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,004 shares of the specialty chemicals company's stock valued at $1,646,000 after purchasing an additional 690 shares in the last quarter. FMR LLC raised its holdings in shares of PPG Industries by 11.0% during the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company's stock valued at $46,512,000 after buying an additional 35,571 shares during the period. Cerity Partners LLC raised its holdings in shares of PPG Industries by 137.5% during the 4th quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company's stock valued at $5,224,000 after buying an additional 20,226 shares during the period. Nomura Holdings Inc. raised its holdings in shares of PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company's stock valued at $1,101,000 after buying an additional 192 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $22,048,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of PPG traded up $0.98 during midday trading on Friday, reaching $135.33. The stock had a trading volume of 1,079,113 shares, compared to its average volume of 1,917,234. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The firm's 50 day moving average price is $137.47 and its 200-day moving average price is $139.27. The company has a market capitalization of $31.73 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.68 and a beta of 1.30.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.82 earnings per share. On average, analysts forecast that PPG Industries, Inc. will post 8.44 earnings per share for the current fiscal year.

PPG Industries declared that its Board of Directors has approved a share repurchase plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, May 9th. PPG Industries's dividend payout ratio (DPR) is presently 43.92%.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company's stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Vincent J. Morales sold 3,400 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company's stock, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy M. Knavish purchased 2,061 shares of the company's stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,774,388.92. The disclosure for this purchase can be found here. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

PPG has been the topic of several analyst reports. Bank of America dropped their price objective on PPG Industries from $167.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, April 22nd. Citigroup dropped their price objective on PPG Industries from $170.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 10th. Wells Fargo & Company upgraded PPG Industries from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. Robert W. Baird restated an "outperform" rating and set a $150.00 price objective on shares of PPG Industries in a report on Friday, January 19th. Finally, KeyCorp dropped their price objective on PPG Industries from $164.00 to $162.00 and set an "overweight" rating on the stock in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.47.

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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