Resonant Capital Advisors LLC Invests $278,000 in PPG Industries, Inc. (NYSE:PPG)

Resonant Capital Advisors LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,080 shares of the specialty chemicals company’s stock, valued at approximately $278,000.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of PPG Industries by 0.6% in the 3rd quarter. State Street Corp now owns 11,625,446 shares of the specialty chemicals company’s stock valued at $1,377,732,000 after buying an additional 69,569 shares during the period. Parnassus Investments CA grew its position in shares of PPG Industries by 4.3% during the 4th quarter. Parnassus Investments CA now owns 4,382,491 shares of the specialty chemicals company’s stock worth $585,019,000 after purchasing an additional 179,975 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PPG Industries by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,455,539 shares of the specialty chemicals company’s stock valued at $327,791,000 after acquiring an additional 35,161 shares in the last quarter. Charles Schwab Investment Advisory Inc. boosted its position in PPG Industries by 1.5% in the fourth quarter. Charles Schwab Investment Advisory Inc. now owns 2,300,149 shares of the specialty chemicals company’s stock valued at $307,047,000 after buying an additional 33,683 shares in the last quarter. Finally, FMR LLC raised its position in PPG Industries by 245.6% in the fourth quarter. FMR LLC now owns 1,298,518 shares of the specialty chemicals company’s stock valued at $173,339,000 after purchasing an additional 922,840 shares during the last quarter. Institutional investors own 77.78% of the company’s stock.

PPG Industries stock traded up $4.05 during mid-day trading on Thursday, reaching $89.76. 1,984,081 shares of the company traded hands, compared to its average volume of 2,207,337. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.41 and a quick ratio of 1.02. PPG Industries, Inc. has a fifty-two week low of $69.77 and a fifty-two week high of $134.36. The firm’s fifty day moving average is $105.47 and its two-hundred day moving average is $120.40. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.88 and a beta of 1.27.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 16th. The specialty chemicals company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.34 by ($0.03). The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a net margin of 8.21% and a return on equity of 28.25%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.15 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 6.41 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st were issued a $0.51 dividend. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $2.04 annualized dividend and a yield of 2.27%. PPG Industries’s dividend payout ratio (DPR) is presently 32.80%.

A number of brokerages recently issued reports on PPG. Wells Fargo & Co cut their target price on PPG Industries from $155.00 to $110.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group cut their price target on PPG Industries from $141.00 to $110.00 and set a “buy” rating for the company in a report on Monday. Robert W. Baird upped their price target on shares of PPG Industries from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $136.00 target price on shares of PPG Industries in a research note on Wednesday, January 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $100.00 price objective on shares of PPG Industries in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. PPG Industries currently has an average rating of “Hold” and an average target price of $125.00.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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