Franklin Resources Inc. Purchases 170,339 Shares of PPG Industries, Inc. (NYSE:PPG)

Franklin Resources Inc. grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,136,570 shares of the specialty chemicals company’s stock after purchasing an additional 170,339 shares during the quarter. Franklin Resources Inc. owned approximately 1.35% of PPG Industries worth $403,049,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PPG. Insight Folios Inc raised its stake in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after acquiring an additional 81 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in PPG Industries by 0.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC lifted its stake in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in PPG Industries by 2.6% during the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after buying an additional 86 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its stake in shares of PPG Industries by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock valued at $669,000 after buying an additional 90 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho decreased their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Up 0.1 %

PPG stock opened at $124.20 on Friday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a market capitalization of $28.81 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.24. The business’s 50 day moving average price is $125.65 and its two-hundred day moving average price is $126.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

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.