Vest Financial LLC Acquires 55,386 Shares of PPG Industries, Inc. (NYSE:PPG)

Vest Financial LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 447,541 shares of the specialty chemicals company’s stock after buying an additional 55,386 shares during the quarter. Vest Financial LLC’s holdings in PPG Industries were worth $53,459,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. lifted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries during the 3rd quarter valued at $34,000. Albion Financial Group UT bought a new stake in PPG Industries during the 4th quarter worth $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries in the 3rd quarter worth about $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.9 %

Shares of NYSE PPG opened at $114.87 on Friday. 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 cap of $26.65 billion, a PE ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. The company’s fifty day simple moving average is $120.22 and its 200 day simple moving average is $123.94. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio is 57.51%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays cut 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 research report on Monday, February 3rd. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Citigroup decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.46.

PPG Industries 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.