First Fiduciary Investment Counsel Inc. Buys 170 Shares of PPG Industries, Inc. (NYSE:PPG)

First Fiduciary Investment Counsel Inc. grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,222 shares of the specialty chemicals company’s stock after buying an additional 170 shares during the quarter. PPG Industries makes up 1.8% of First Fiduciary Investment Counsel Inc.’s holdings, making the stock its 29th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in PPG Industries were worth $8,985,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of PPG Industries during the third quarter worth $34,000. Albion Financial Group UT acquired a new position in shares of PPG Industries during the fourth quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in shares of PPG Industries during the third quarter worth $40,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. 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. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. UBS Group dropped their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Finally, KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $140.46.

PPG Industries Trading Down 0.6 %

Shares of PPG stock opened at $114.13 on Tuesday. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. 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 company has a 50-day simple moving average of $120.03 and a two-hundred day simple moving average of $123.81. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its earnings results 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 net margin of 6.41% and a return on equity of 23.78%. Research analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio 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.