PPG Industries, Inc. (NYSE:PPG) Shares Bought by BKM Wealth Management LLC

BKM Wealth Management LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 21.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,349 shares of the specialty chemicals company’s stock after acquiring an additional 773 shares during the period. BKM Wealth Management LLC’s holdings in PPG Industries were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LVW Advisors LLC purchased a new position in PPG Industries in the first quarter valued at about $233,000. Cornerstone Wealth Group LLC bought a new position in PPG Industries during the 1st quarter worth approximately $2,959,000. Foguth Wealth Management LLC. bought a new position in PPG Industries during the 1st quarter worth approximately $211,000. Vicus Capital bought a new position in PPG Industries during the 1st quarter worth approximately $332,000. Finally, Grimes & Company Inc. lifted its holdings in PPG Industries by 13.5% during the 1st quarter. Grimes & Company Inc. now owns 1,551 shares of the specialty chemicals company’s stock worth $225,000 after buying an additional 184 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish purchased 2,061 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was bought 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG traded down $1.64 during mid-day trading on Monday, reaching $124.25. The company had a trading volume of 353,748 shares, compared to its average volume of 1,665,273. The stock has a market cap of $29.14 billion, a PE ratio of 20.99, a P/E/G ratio of 1.56 and a beta of 1.26. The company has a 50-day moving average price of $130.76 and a two-hundred day moving average price of $138.33. 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 1-year low of $120.32 and a 1-year high of $152.89.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. On average, equities analysts anticipate that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries declared that its board has authorized a stock repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 2.09%. PPG Industries’s payout ratio is 43.92%.

Analysts Set New Price Targets

PPG has been the topic of a number of research analyst reports. Citigroup reduced their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. UBS Group cut their price target on PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

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.