Vaughan David Investments LLC IL Has $34.45 Million Position in PPG Industries, Inc. (NYSE:PPG)

Vaughan David Investments LLC IL boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 288,371 shares of the specialty chemicals company’s stock after acquiring an additional 8,242 shares during the quarter. Vaughan David Investments LLC IL’s holdings in PPG Industries were worth $34,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the third quarter valued at about $34,000. Hara Capital LLC bought a new position in shares of PPG Industries in the third quarter valued at about $40,000. Finally, Albion Financial Group UT bought a new position in shares of PPG Industries in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $113.47 on Tuesday. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The firm has a market cap of $25.75 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 2.19 and a beta of 1.23. The firm’s 50-day simple moving average is $118.11 and its 200 day simple moving average is $123.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.40%. PPG Industries’s payout ratio is 57.51%.

Analyst Ratings Changes

Several brokerages have weighed in on PPG. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.15.

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.