Bryn Mawr Capital Management LLC Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Bryn Mawr Capital Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,290 shares of the specialty chemicals company’s stock after buying an additional 1,437 shares during the period. Bryn Mawr Capital Management LLC’s holdings in PPG Industries were worth $1,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PPG. OFI Invest Asset Management purchased a new stake in shares of PPG Industries during the third quarter worth approximately $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its stake in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the period. CVA Family Office LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $28,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $30,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PPG shares. Robert W. Baird restated an “outperform” rating and set a $150.00 target price on shares of PPG Industries in a research note on Friday, January 19th. Evercore ISI downgraded PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price target for the company. in a report on Monday, April 22nd. UBS Group lowered their price target on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Bank of America lowered their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Citigroup lowered their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $155.47.

PPG Industries Price Performance

Shares of NYSE PPG opened at $130.15 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05. The stock has a fifty day moving average price of $139.31 and a 200 day moving average price of $138.86. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The company has a market cap of $30.52 billion, a PE ratio of 21.98, a P/E/G ratio of 1.60 and a beta of 1.28.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $4.43 billion. During the same period last year, the company earned $1.82 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio is presently 43.92%.

PPG Industries declared that its board has initiated a stock buyback program on Thursday, April 18th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the 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 directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.