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

Larson Financial Group LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 13.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,493 shares of the specialty chemicals company’s stock after purchasing 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 quarter.

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

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PPG shares. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada lowered their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group cut their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $138.15.

PPG Industries Stock Up 0.1 %

PPG opened at $115.47 on Monday. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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’s fifty day moving average is $116.82 and its 200 day moving average is $122.75. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. 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 dividend payout ratio (DPR) is currently 57.51%.

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.