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

Radnor Capital Management LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,230 shares of the specialty chemicals company’s stock, valued at approximately $1,223,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC boosted its holdings in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares in the last quarter. Insight Folios Inc lifted its position in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after acquiring an additional 81 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares in the last quarter. Klingman & Associates LLC grew its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc increased its stake in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 84 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PPG. Barclays reduced their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their price target 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. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Up 0.9 %

Shares of NYSE:PPG opened at $125.78 on Thursday. The company has a market capitalization of $29.18 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business has a fifty day moving average price of $127.86 and a two-hundred day moving average price of $128.10.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company 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 business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.07 EPS. Analysts forecast that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

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.