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

Truvestments Capital LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,463 shares of the specialty chemicals company’s stock, valued at approximately $194,000.

Several other institutional investors also recently modified their holdings of PPG. Price T Rowe Associates Inc. MD increased its position in shares of PPG Industries by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after purchasing an additional 3,448 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in PPG Industries by 0.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company’s stock valued at $4,040,000 after buying an additional 171 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in PPG Industries by 29.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock worth $732,000 after buying an additional 1,158 shares during the last quarter. California State Teachers Retirement System increased its holdings in PPG Industries by 3.8% during the first quarter. California State Teachers Retirement System now owns 427,262 shares of the specialty chemicals company’s stock worth $61,910,000 after buying an additional 15,701 shares during the last quarter. Finally, Tidal Investments LLC raised its position in PPG Industries by 145.0% in the first quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company’s stock worth $3,417,000 after acquiring an additional 13,959 shares during the period. 81.86% of the stock is owned by institutional investors.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is currently owned by insiders.

PPG Industries Price Performance

NYSE:PPG opened at $125.81 on Tuesday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock has a fifty day moving average of $126.97 and a 200 day moving average of $127.34. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.88 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.07 EPS. On average, research 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. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Analyst Upgrades and Downgrades

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

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.