PUREfi Wealth LLC Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

PUREfi Wealth LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,336 shares of the specialty chemicals company’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new stake in PPG Industries during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. raised its holdings in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter worth $34,000. Hara Capital LLC bought a new position in PPG Industries in the 3rd quarter worth $40,000. Finally, Albion Financial Group UT bought a new position in PPG Industries in the 4th quarter worth $38,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $117.75 on Friday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company’s 50-day moving average is $119.18 and its 200 day moving average is $123.54. The company has a market capitalization of $27.32 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. 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 announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Barclays decreased their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. UBS Group decreased their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Mizuho decreased their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

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.