PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Nicolet Advisory Services LLC

Nicolet Advisory Services LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,234 shares of the specialty chemicals company’s stock after acquiring an additional 312 shares during the period. Nicolet Advisory Services LLC’s holdings in PPG Industries were worth $602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries during the 4th quarter valued at approximately $27,000. SJS Investment Consulting Inc. raised its position in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $29,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of PPG Industries during the 4th quarter worth approximately $29,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 2.8 %

PPG Industries stock traded down $3.67 during trading on Friday, reaching $128.04. 4,342,564 shares of the company’s stock were exchanged, compared to its average volume of 1,466,653. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.60. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The firm has a market cap of $30.03 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.62 and a beta of 1.26. The company’s 50-day moving average is $129.62 and its two-hundred day moving average is $136.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.50%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.25 EPS. On average, analysts predict that PPG Industries, Inc. will post 8.23 earnings per share for the current year.

PPG Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is 43.92%.

Insider Activity

In related news, CEO Timothy M. Knavish bought 2,061 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the purchase, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,774,388.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PPG. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $163.00 in a research report on Thursday, April 11th. Citigroup lowered their target price on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Evercore ISI cut shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price for the company. in a research note on Monday, April 22nd. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, BMO Capital Markets lowered their price objective on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.14.

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.