1,527 Shares in PPG Industries, Inc. (NYSE:PPG) Bought by Arrowroot Family Office LLC

Arrowroot Family Office LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,527 shares of the specialty chemicals company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares in the last quarter. FMR LLC raised its holdings in PPG Industries by 68.3% in the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after acquiring an additional 354,740 shares during the last quarter. International Assets Investment Management LLC lifted its stake in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after purchasing an additional 279,455 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after purchasing an additional 249,406 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $124.37 on Monday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock has a market capitalization of $28.85 billion, a PE ratio of 19.71, a PEG ratio of 1.90 and a beta of 1.26. 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 stock has a 50-day simple moving average of $126.65 and a 200-day simple moving average of $127.01.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, Mizuho reduced their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Company 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.