Montag A & Associates Inc. Has $3.78 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Montag A & Associates Inc. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,252 shares of the specialty chemicals company’s stock after purchasing an additional 323 shares during the period. Montag A & Associates Inc.’s holdings in PPG Industries were worth $3,776,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in PPG Industries in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC bought a new position in PPG Industries in the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. CVA Family Office LLC bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $29,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock traded up $1.56 during trading hours on Thursday, reaching $134.35. The company had a trading volume of 1,271,735 shares, compared to its average volume of 1,767,595. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The business has a fifty day simple moving average of $137.70 and a 200 day simple moving average of $139.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The firm has a market cap of $31.51 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.82 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts anticipate that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries announced that its Board of Directors has initiated a stock buyback program on Thursday, April 18th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio is 43.92%.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Timothy M. Knavish purchased 2,061 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PPG shares. BMO Capital Markets dropped their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. Robert W. Baird restated an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a report on Friday, January 19th. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Finally, KeyCorp decreased their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.47.

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.