Tidal Investments LLC Buys 162 Shares of PPG Industries, Inc. (NYSE:PPG)

Tidal Investments LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.2% in the third quarter, HoldingsChannel.com reports. The firm owned 13,306 shares of the specialty chemicals company’s stock after purchasing an additional 162 shares during the period. Tidal Investments LLC’s holdings in PPG Industries were worth $1,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new stake in PPG Industries during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. increased its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries during the 3rd quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in PPG Industries during the 2nd quarter worth approximately $37,000. Finally, Hara Capital LLC bought a new stake in PPG Industries during the 3rd quarter worth approximately $40,000. 81.86% of the stock is owned by institutional investors.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 12th. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Down 0.5 %

NYSE:PPG opened at $122.06 on Wednesday. The company has a market cap of $28.32 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.90 and a beta of 1.24. The stock’s fifty day moving average price is $125.43 and its two-hundred day moving average price is $126.41. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $150.82. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.23%. PPG Industries’s dividend payout ratio is presently 43.11%.

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.