Ashton Thomas Private Wealth LLC Buys 3,110 Shares of PPG Industries, Inc. (NYSE:PPG)

Ashton Thomas Private Wealth LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,263 shares of the specialty chemicals company’s stock after buying an additional 3,110 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in PPG Industries were worth $2,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP raised its holdings in PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares during the last quarter. Boston Partners raised its holdings in PPG Industries by 4.9% during the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after purchasing an additional 80,710 shares during the last quarter. ProShare Advisors LLC raised its holdings in PPG Industries by 12.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock worth $176,751,000 after purchasing an additional 152,719 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in PPG Industries by 9.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock worth $162,862,000 after purchasing an additional 100,391 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PPG shares. Royal Bank of Canada lowered their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Bank of America lowered their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Barclays lowered their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.93.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $121.75 on Wednesday. The company has a fifty day simple moving average of $127.64 and a 200 day simple moving average of $127.99. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $28.25 billion, a P/E ratio of 19.29, a PEG ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly 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 during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 8.18 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 Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is 43.11%.

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.