Truvestments Capital LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Truvestments Capital LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the third quarter, Holdings Channel reports. The fund acquired 1,463 shares of the specialty chemicals company’s stock, valued at approximately $194,000.

Other large investors have also recently modified their holdings of the company. Financial Connections Group Inc. bought a new position in PPG Industries during the 2nd quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the third quarter worth $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the second quarter worth $37,000. Hara Capital LLC bought a new stake in PPG Industries during the 3rd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in PPG Industries during the 3rd quarter valued at $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of analyst reports. Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

Shares of PPG stock opened at $125.81 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company’s fifty day moving average price is $126.97 and its 200-day moving average price is $127.34. The stock has a market cap of $29.19 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share 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 business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the company posted $2.07 EPS. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.