Larson Financial Group LLC Acquires 539 Shares of PPG Industries, Inc. (NYSE:PPG)

Larson Financial Group LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,493 shares of the specialty chemicals company’s stock after buying an additional 539 shares during the quarter. Larson Financial Group LLC’s holdings in PPG Industries were worth $537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Banco Santander S.A. bought a new stake in shares of PPG Industries in the 4th quarter worth $272,000. Ashton Thomas Private Wealth LLC boosted its holdings in PPG Industries by 7.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,940 shares of the specialty chemicals company’s stock worth $2,860,000 after purchasing an additional 1,677 shares during the last quarter. Welch & Forbes LLC grew its position in PPG Industries by 3.7% in the 4th quarter. Welch & Forbes LLC now owns 4,189 shares of the specialty chemicals company’s stock worth $500,000 after purchasing an additional 150 shares in the last quarter. Lindbrook Capital LLC increased its stake in PPG Industries by 25.5% in the 4th quarter. Lindbrook Capital LLC now owns 852 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 173 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of PPG Industries during the 4th quarter worth approximately $82,071,000. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PPG shares. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $138.15.

PPG Industries Price Performance

PPG opened at $115.47 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $26.21 billion, a P/E ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The stock has a 50-day moving average price of $116.82 and a 200-day moving average price of $122.75. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Company 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.