HB Wealth Management LLC Increases Stake in PPG Industries, Inc. (NYSE:PPG)

HB Wealth Management LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,554 shares of the specialty chemicals company’s stock after purchasing an additional 540 shares during the period. HB Wealth Management LLC’s holdings in PPG Industries were worth $1,022,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in shares of PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the third quarter worth about $34,000. Hara Capital LLC acquired a new stake in shares of PPG Industries during the third quarter worth about $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in PPG Industries in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on PPG shares. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.23.

Get Our Latest Stock Analysis on PPG

PPG Industries Stock Up 0.5 %

PPG opened at $120.14 on Tuesday. The company has a market cap of $27.87 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.86. The company has a 50-day moving average price of $121.26 and a 200 day moving average price of $124.80. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.26%. PPG Industries’s payout ratio is currently 43.11%.

PPG Industries Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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