Vaughan David Investments LLC IL Purchases 8,242 Shares of PPG Industries, Inc. (NYSE:PPG)

Vaughan David Investments LLC IL increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 288,371 shares of the specialty chemicals company’s stock after acquiring an additional 8,242 shares during the quarter. Vaughan David Investments LLC IL owned about 0.12% of PPG Industries worth $34,446,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. FourThought Financial Partners LLC acquired a new position in PPG Industries during the 4th quarter valued at approximately $458,000. Impax Asset Management Group plc lifted its holdings in PPG Industries by 7.0% during the fourth quarter. Impax Asset Management Group plc now owns 254,358 shares of the specialty chemicals company’s stock valued at $30,383,000 after purchasing an additional 16,567 shares in the last quarter. IFP Advisors Inc lifted its holdings in PPG Industries by 186.8% during the fourth quarter. IFP Advisors Inc now owns 628 shares of the specialty chemicals company’s stock valued at $75,000 after purchasing an additional 409 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in PPG Industries during the fourth quarter valued at $2,543,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in PPG Industries by 553.3% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 9,800 shares of the specialty chemicals company’s stock valued at $1,171,000 after purchasing an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent research reports. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho lowered 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 note on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Stock Performance

Shares of PPG opened at $113.47 on Tuesday. The company has a 50-day moving average of $118.11 and a two-hundred day moving average of $123.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

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.