Tyche Wealth Partners LLC Buys Shares of 2,561 PPG Industries, Inc. (NYSE:PPG)

Tyche Wealth Partners LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,561 shares of the specialty chemicals company’s stock, valued at approximately $383,000.

Several other institutional investors have also modified their holdings of the business. FMR LLC lifted its stake in PPG Industries by 11.0% in the third quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after buying an additional 35,571 shares in the last quarter. Nomura Holdings Inc. lifted its position in PPG Industries by 2.3% in the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after acquiring an additional 192 shares in the last quarter. Financial Counselors Inc. boosted its stake in PPG Industries by 6.4% in the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 114 shares during the period. Vest Financial LLC increased its holdings in PPG Industries by 42.6% during the 4th quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock worth $32,582,000 after purchasing an additional 65,073 shares in the last quarter. Finally, Trust Point Inc. acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $1,145,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of a number of recent research reports. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Wolfe Research initiated coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating for the company. KeyCorp cut their price target on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Royal Bank of Canada lowered their target price on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.40.

PPG Industries Trading Up 1.1 %

Shares of PPG stock opened at $134.96 on Thursday. The stock has a market cap of $31.76 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.28. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. The stock has a 50 day simple moving average of $140.60 and a 200 day simple moving average of $138.90.

PPG Industries (NYSE:PPG) last released its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.