Proficio Capital Partners LLC Acquires New Holdings in PPG Industries, Inc. (NYSE:PPG)

Proficio Capital Partners LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 58,579 shares of the specialty chemicals company’s stock, valued at approximately $6,997,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its stake in 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 worth $32,000 after buying an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries in the 3rd quarter worth approximately $34,000. Albion Financial Group UT purchased a new position in PPG Industries in the 4th quarter worth approximately $38,000. Finally, Hara Capital LLC purchased a new stake in shares of PPG Industries in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of a number of research reports. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Stock Down 1.3 %

Shares of NYSE PPG opened at $111.72 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The firm has a market capitalization of $25.36 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The firm has a fifty day simple moving average of $117.40 and a two-hundred day simple moving average of $123.02.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.55% of the company’s stock.

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.