Sequoia Financial Advisors LLC Buys 328 Shares of PPG Industries, Inc. (NYSE:PPG)

Sequoia Financial Advisors LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,384 shares of the specialty chemicals company’s stock after buying an additional 328 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in PPG Industries were worth $569,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PPG. OFI Invest Asset Management purchased a new stake in PPG Industries during the 3rd quarter valued at $25,000. Harbour Investments Inc. boosted its position in PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 101 shares during the period. Quarry LP purchased a new stake in PPG Industries during the 2nd quarter valued at $29,000. WFA of San Diego LLC purchased a new stake in PPG Industries during the 2nd quarter valued at $30,000. Finally, Intrepid Capital Management Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at $30,000. Institutional investors own 79.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group increased their price target on shares of PPG Industries from $165.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada dropped their target price on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a research report on Monday, January 22nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a research report on Friday, January 19th. Finally, Citigroup dropped their target price on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $158.93.

Read Our Latest Report on PPG Industries

PPG Industries Stock Up 0.7 %

NYSE:PPG opened at $139.58 on Friday. The firm has a market cap of $32.91 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.37 and a beta of 1.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a 50-day simple moving average of $144.87 and a two-hundred day simple moving average of $137.91.

PPG Industries (NYSE:PPGGet Free Report) last released its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.79%. PPG Industries’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $1.22 EPS. Analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a yield of 1.86%. PPG Industries’s dividend payout ratio is currently 48.69%.

About PPG Industries

(Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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