1,513 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Index Fund Advisors Inc.

Index Fund Advisors Inc. acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,513 shares of the specialty chemicals company’s stock, valued at approximately $200,000.

Several other large investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the second quarter valued at approximately $25,000. Riverview Trust Co bought a new position in PPG Industries during the 1st quarter worth $34,000. Rothschild Investment LLC acquired a new position in PPG Industries in the 2nd quarter valued at $37,000. LRI Investments LLC lifted its position in shares of PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Finally, Slocum Gordon & Co LLP grew its holdings in shares of PPG Industries by 51.7% during the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada reduced 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 report on Tuesday. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Trading Down 0.1 %

Shares of PPG stock traded down $0.14 during mid-day trading on Thursday, reaching $126.14. 90,815 shares of the stock traded hands, compared to its average volume of 1,589,301. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.58 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $127.69 and its two-hundred day simple moving average is $128.83. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.58% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 earnings per share. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a yield of 2.16%. PPG Industries’s payout ratio is 43.11%.

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.