Arrowroot Family Office LLC Makes New $202,000 Investment in PPG Industries, Inc. (NYSE:PPG)

Arrowroot Family Office LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,527 shares of the specialty chemicals company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Financial Connections Group Inc. purchased a new position in PPG Industries in the second quarter valued at about $25,000. Pin Oak Investment Advisors Inc. raised its holdings in 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 worth $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in PPG Industries during the third quarter worth $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the second quarter valued at $37,000. Finally, Hara Capital LLC purchased a new position in shares of PPG Industries in the third quarter valued at $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.7 %

PPG opened at $124.37 on Monday. The firm’s 50 day moving average is $126.65 and its 200-day moving average is $127.01. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $28.85 billion, a P/E ratio of 19.71, a P/E/G ratio of 1.90 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during 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%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.07 EPS. Analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced 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. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’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 completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. The trade was 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 at this link. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada cut their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating and twelve 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 $149.93.

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.