Pavion Blue Capital LLC Acquires 7,400 Shares of PPG Industries, Inc. $PPG

Pavion Blue Capital LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,400 shares of the specialty chemicals company’s stock, valued at approximately $772,000.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in PPG Industries during the second quarter worth about $2,856,392,000. State Street Corp boosted its stake in shares of PPG Industries by 8.8% in the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock valued at $1,682,428,000 after purchasing an additional 1,124,109 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $946,964,000. Bank of New York Mellon Corp acquired a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $318,870,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock valued at $312,613,000 after purchasing an additional 58,411 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PPG shares. Citigroup upped their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Royal Bank Of Canada increased their price objective on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. raised their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $128.00 target price on shares of PPG Industries in a research note on Friday, October 9th. Finally, Wells Fargo & Company boosted their target price on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Trading Up 0.3%

NYSE:PPG opened at $124.80 on Thursday. The firm’s fifty day moving average is $110.56 and its 200-day moving average is $113.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The firm has a market cap of $27.57 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.14 and a beta of 1.00.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. PPG Industries’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 earnings per share. Equities analysts expect that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is presently 42.29%.

Insiders Place Their Bets

In other PPG Industries news, VP Chancey Hagerty sold 2,500 shares of the stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the sale, the vice president directly owned 9,761 shares in the company, valued at approximately $1,241,013.54. This trade represents a 20.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

PPG Industries Company Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.