Tyche Wealth Partners LLC Purchases New Position in PPG Industries, Inc. (NYSE:PPG)

Tyche Wealth Partners LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,561 shares of the specialty chemicals company’s stock, valued at approximately $383,000.

A number of other hedge funds have also bought and sold shares of PPG. Moneta Group Investment Advisors LLC boosted its holdings in shares of PPG Industries by 163,082.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in PPG Industries by 602,706.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after purchasing an additional 2,639,853 shares in the last quarter. Norges Bank bought a new position in PPG Industries in the 4th quarter worth about $318,155,000. First Trust Advisors LP grew its holdings in PPG Industries by 280.6% during the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after buying an additional 1,279,104 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of PPG Industries by 41.1% during the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock valued at $427,580,000 after buying an additional 959,849 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 1.1 %

PPG stock opened at $134.96 on Thursday. The company has a market capitalization of $31.76 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company’s 50 day moving average price is $140.60 and its two-hundred day moving average price is $138.90.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 EPS. As a group, analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PPG shares. Citigroup cut their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Wolfe Research assumed coverage on shares of PPG Industries in a research report on Friday, March 1st. They set a “peer perform” rating for the company. UBS Group reaffirmed a “neutral” rating and issued a $156.00 price target (down previously from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. Robert W. Baird reissued an “outperform” rating and set a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Finally, Barclays cut PPG Industries from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $163.00 to $149.00 in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $158.40.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.55% 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.