V Wealth Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,750 shares of the specialty chemicals company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Verity & Verity LLC grew its holdings in PPG Industries by 0.9% during the 3rd quarter. Verity & Verity LLC now owns 60,816 shares of the specialty chemicals company’s stock worth $6,609,000 after acquiring an additional 534 shares in the last quarter. LS Investment Advisors LLC grew its holdings in PPG Industries by 3.4% during the 3rd quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock worth $2,605,000 after acquiring an additional 784 shares in the last quarter. Private Advisor Group LLC grew its holdings in PPG Industries by 19.2% during the 3rd quarter. Private Advisor Group LLC now owns 16,278 shares of the specialty chemicals company’s stock worth $1,827,000 after acquiring an additional 2,626 shares in the last quarter. Norinchukin Bank The grew its holdings in PPG Industries by 7.4% during the 3rd quarter. Norinchukin Bank The now owns 19,089 shares of the specialty chemicals company’s stock worth $2,074,000 after acquiring an additional 1,310 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in PPG Industries by 90.8% during the 3rd quarter. Bessemer Group Inc. now owns 3,107 shares of the specialty chemicals company’s stock worth $337,000 after acquiring an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

Several research analysts have issued reports on the stock. Northcoast Research reiterated a “buy” rating and set a $128.00 target price on shares of PPG Industries in a report on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $120.00 target price on shares of PPG Industries in a report on Friday. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Jefferies Group reiterated a “buy” rating and set a $135.00 target price on shares of PPG Industries in a report on Wednesday, January 3rd. Finally, Citigroup increased their target price on shares of PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and an average target price of $123.47.

Shares of PPG Industries, Inc. (PPG) opened at $118.44 on Friday. The company has a market cap of $30,140.00, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.08 and a beta of 1.60. PPG Industries, Inc. has a 1 year low of $97.87 and a 1 year high of $122.07. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. equities research analysts predict that PPG Industries, Inc. will post 6.59 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s payout ratio is 33.03%.

PPG Industries declared that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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