1,934 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by First Bancorp Inc ME

First Bancorp Inc ME bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,934 shares of the specialty chemicals company’s stock, valued at approximately $256,000.

A number of other large investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in shares of PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after acquiring an additional 76 shares during the last quarter. Applied Capital LLC FL raised its position in PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after purchasing an additional 82 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares in the last quarter. Klingman & Associates LLC grew its holdings in shares of PPG Industries by 2.6% during the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the last quarter. Finally, Fragasso Financial Advisors Inc increased its stake in shares of PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PPG shares. BMO Capital Markets set a $160.00 price objective on shares of PPG Industries in a research note on Thursday. KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $150.50.

PPG Industries Stock Performance

Shares of PPG stock traded down $0.43 during trading on Friday, hitting $130.93. The company’s stock had a trading volume of 2,174,631 shares, compared to its average volume of 1,601,597. The business has a fifty day moving average of $127.21 and a 200-day moving average of $129.19. The company has a market cap of $30.55 billion, a PE ratio of 21.46, a P/E/G ratio of 1.73 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.24 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. PPG Industries’s dividend payout ratio (DPR) is presently 44.59%.

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.