Tarbox Family Office Inc. Has $3.08 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Tarbox Family Office Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 18.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,234 shares of the specialty chemicals company’s stock after selling 4,725 shares during the quarter. PPG Industries comprises approximately 0.5% of Tarbox Family Office Inc.’s holdings, making the stock its 21st largest position. Tarbox Family Office Inc.’s holdings in PPG Industries were worth $3,077,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Procyon Advisors LLC grew its position in shares of PPG Industries by 2.3% in the first quarter. Procyon Advisors LLC now owns 21,908 shares of the specialty chemicals company’s stock valued at $3,175,000 after purchasing an additional 487 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in PPG Industries by 188.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,074 shares of the specialty chemicals company’s stock worth $1,460,000 after buying an additional 6,584 shares during the period. G&S Capital LLC lifted its holdings in shares of PPG Industries by 2.3% during the first quarter. G&S Capital LLC now owns 4,773 shares of the specialty chemicals company’s stock worth $692,000 after buying an additional 106 shares during the last quarter. Riverview Trust Co bought a new stake in shares of PPG Industries in the first quarter valued at approximately $34,000. Finally, &PARTNERS bought a new position in PPG Industries during the first quarter worth $563,000. 81.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPG shares. Citigroup decreased their price target on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, April 10th. Royal Bank of Canada reduced their price objective on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Bank of America decreased their target price on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $155.47.

PPG Industries Stock Performance

NYSE:PPG traded up $0.88 on Friday, hitting $125.78. The company’s stock had a trading volume of 241,896 shares, compared to its average volume of 1,656,950. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The stock has a fifty day moving average of $131.06 and a two-hundred day moving average of $138.68. The firm has a market capitalization of $29.50 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.28.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share. Research analysts predict that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries declared that its Board of Directors has approved a stock buyback program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th were paid a $0.65 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 2.07%. PPG Industries’s payout ratio is 43.92%.

About PPG Industries

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.