PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 11.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,279 shares of the specialty chemicals company’s stock after acquiring an additional 4,705 shares during the period. Cerity Partners LLC’s holdings in PPG Industries were worth $6,263,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter worth $25,000. Capital Performance Advisors LLP purchased a new stake in PPG Industries during the 3rd quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in PPG Industries during the 2nd quarter worth about $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of PPG Industries during the 3rd quarter worth about $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $123.41 on Thursday. 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 50 day simple moving average of $126.80 and a 200-day simple moving average of $127.22. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock has a market capitalization of $28.63 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.07 EPS. Equities analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PPG shares. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Royal Bank of Canada cut their price target on shares of 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. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price 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.