Marion Wealth Management Purchases 410 Shares of PPG Industries, Inc. (NYSE:PPG)

Marion Wealth Management raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,810 shares of the specialty chemicals company’s stock after buying an additional 410 shares during the quarter. Marion Wealth Management’s holdings in PPG Industries were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its position in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter valued at approximately $34,000. Hara Capital LLC purchased a new stake in PPG Industries during the 3rd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of PPG Industries in the 3rd quarter worth $46,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE PPG traded up $1.48 during trading hours on Monday, reaching $114.66. The company’s stock had a trading volume of 2,108,330 shares, compared to its average volume of 2,090,230. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $113.00 and a 1 year high of $145.86. The firm’s 50-day moving average price is $122.03 and its 200-day moving average price is $125.05. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.07 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PPG. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Citigroup lowered their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Mizuho cut their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

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.