First Fiduciary Investment Counsel Inc. Boosts Holdings in PPG Industries, Inc. (NYSE:PPG)

First Fiduciary Investment Counsel Inc. boosted its position in PPG Industries, Inc. (NYSE:PPG) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,222 shares of the specialty chemicals company’s stock after purchasing an additional 170 shares during the quarter. PPG Industries comprises 1.8% of First Fiduciary Investment Counsel Inc.’s investment portfolio, making the stock its 29th biggest position. First Fiduciary Investment Counsel Inc.’s holdings in PPG Industries were worth $8,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Regents Gate Capital LLP bought a new position in shares of PPG Industries in the 4th quarter worth $2,897,000. Savant Capital LLC increased its holdings in shares of PPG Industries by 0.9% in the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after buying an additional 107 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of PPG Industries by 9.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 13,432 shares of the specialty chemicals company’s stock worth $1,604,000 after buying an additional 1,107 shares during the last quarter. Birch Hill Investment Advisors LLC increased its holdings in shares of PPG Industries by 3.6% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 3,433 shares of the specialty chemicals company’s stock worth $410,000 after buying an additional 118 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new position in shares of PPG Industries in the 4th quarter worth $949,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PPG has been the topic of a number of research analyst reports. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barclays reduced their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.46.

PPG Industries Stock Down 0.6 %

Shares of PPG Industries stock opened at $114.13 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $26.48 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a 50-day simple moving average of $120.03 and a two-hundred day simple moving average of $123.81.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. PPG Industries’s dividend payout ratio is presently 57.51%.

PPG Industries Company 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.