PPG Industries, Inc. (NYSE:PPG) Stock Holdings Increased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 14.0% during the fourth quarter, Holdings Channel reports. The firm owned 6,683 shares of the specialty chemicals company’s stock after purchasing an additional 819 shares during the period. Axxcess Wealth Management LLC’s holdings in PPG Industries were worth $999,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in shares of PPG Industries during the 3rd quarter worth about $25,000. Valued Wealth Advisors LLC bought a new stake in PPG Industries during the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its position 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 during the period. CVA Family Office LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth $28,000. Finally, DiNuzzo Private Wealth Inc. acquired a new position in PPG Industries in the 4th quarter valued at $29,000. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other 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 sale, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $133.04 on Tuesday. The firm has a market cap of $31.20 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 1.65 and a beta of 1.30. The stock’s fifty day simple moving average is $137.97 and its 200 day simple moving average is $139.08. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08.

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

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

PPG Industries Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.95%. PPG Industries’s dividend payout ratio is 43.92%.

Analyst Ratings Changes

PPG has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $163.00 in a report on Thursday, April 11th. StockNews.com upgraded PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Citigroup lowered their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price 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.