Relyea Zuckerberg Hanson LLC Increases Stake in PPG Industries, Inc. (NYSE:PPG)

Relyea Zuckerberg Hanson LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,800 shares of the specialty chemicals company’s stock after purchasing an additional 161 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in PPG Industries were worth $573,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. 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. lifted its position in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new stake in PPG Industries during the 3rd quarter valued at about $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of PPG Industries in the third quarter worth about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG stock traded up $0.83 during trading on Friday, hitting $120.43. The stock had a trading volume of 194,573 shares, compared to its average volume of 1,836,832. PPG Industries, Inc. has a twelve month low of $113.00 and a twelve month high of $145.86. The company’s 50-day moving average price is $121.50 and its two-hundred day moving average price is $124.86. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market capitalization of $27.94 billion, a P/E ratio of 19.12, a PEG ratio of 1.77 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts predict that PPG Industries, Inc. will post 8.15 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.26%. PPG Industries’s payout ratio is 43.11%.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

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.