Northern Financial Advisors Inc Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Northern Financial Advisors Inc bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,931 shares of the specialty chemicals company’s stock, valued at approximately $350,000.

Several other large investors also recently modified their holdings of the stock. PFW Advisors LLC purchased a new position in PPG Industries in the fourth quarter valued at approximately $868,000. Equity Investment Corp raised its stake in shares of PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after buying an additional 42,380 shares during the period. JGP Wealth Management LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at $4,050,000. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after acquiring an additional 15,161 shares during the period. Finally, Avanza Fonder AB purchased a new stake in PPG Industries in the 4th quarter worth about $2,944,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 2.8 %

PPG stock opened at $118.05 on Friday. The company’s 50 day moving average is $119.33 and its 200 day moving average is $123.58. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts predict that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PPG shares. Mizuho cut their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $138.15.

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.