Mount Yale Investment Advisors LLC Takes $4.80 Million Position in PPG Industries, Inc. (NYSE:PPG)

by · The Cerbat Gem

Mount Yale Investment Advisors LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 36,207 shares of the specialty chemicals company’s stock, valued at approximately $4,796,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the 2nd quarter worth $25,000. Rothschild Investment LLC acquired a new stake in PPG Industries during the second quarter valued at approximately $37,000. LRI Investments LLC lifted its position in shares of PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the last quarter. Slocum Gordon & Co LLP boosted its stake in shares of PPG Industries by 51.7% during the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 155 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its position in shares of PPG Industries by 103.6% during the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 203 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $127.23 on Friday. The firm has a market capitalization of $29.52 billion, a PE ratio of 20.16, a PEG ratio of 1.94 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm’s fifty day simple moving average is $127.69 and its 200 day simple moving average is $128.83.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analyst estimates 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 for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.14%. PPG Industries’s dividend payout ratio is 43.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday. Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Citigroup dropped their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Get Our Latest Research Report on PPG Industries

About PPG Industries

(Free Report)

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.

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