Monte Financial Group LLC Buys 546 Shares of PPG Industries, Inc. (NYSE:PPG)

Monte Financial Group LLC grew its stake in PPG Industries, Inc. (NYSE:PPG) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,256 shares of the specialty chemicals company’s stock after acquiring an additional 546 shares during the quarter. Monte Financial Group LLC’s holdings in PPG Industries were worth $3,610,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Financial Connections Group Inc. bought a new stake in PPG Industries in the second quarter valued at approximately $25,000. Riverview Trust Co acquired a new stake in PPG Industries during the 1st quarter worth $34,000. Rothschild Investment LLC bought a new position in PPG Industries during the second quarter worth about $37,000. LRI Investments LLC grew its stake in PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Finally, Slocum Gordon & Co LLP increased its holdings in shares of PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 155 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the subject of several research analyst reports. Citigroup decreased their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Barclays dropped their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Down 0.3 %

Shares of PPG stock opened at $126.28 on Thursday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.93 and a beta of 1.26. The firm’s 50-day moving average is $127.69 and its 200-day moving average is $128.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 23.58%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 earnings per share. Sell-side analysts predict that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

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.