First Western Trust Bank Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

First Western Trust Bank increased its position in PPG Industries, Inc. (NYSE:PPG) by 12.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,528 shares of the specialty chemicals company’s stock after purchasing an additional 270 shares during the quarter. First Western Trust Bank’s holdings in PPG Industries were worth $378,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PPG. Montag A & Associates Inc. raised its holdings in shares of PPG Industries by 1.3% in the fourth quarter. Montag A & Associates Inc. now owns 25,252 shares of the specialty chemicals company’s stock valued at $3,776,000 after acquiring an additional 323 shares in the last quarter. US Asset Management LLC bought a new stake in shares of PPG Industries in the 4th quarter valued at about $421,000. GDS Wealth Management purchased a new stake in shares of PPG Industries in the 4th quarter worth approximately $477,000. Gryphon Financial Partners LLC boosted its stake in shares of PPG Industries by 1.7% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares in the last quarter. Finally, Barlow Wealth Partners Inc. purchased a new position in PPG Industries during the fourth quarter valued at approximately $210,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $1.56 during trading on Thursday, hitting $134.35. The stock had a trading volume of 1,271,735 shares, compared to its average volume of 1,767,595. The stock has a 50-day simple moving average of $137.70 and a two-hundred day simple moving average of $139.11. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30. PPG Industries, Inc. has a 12-month low of $120.32 and a 12-month high of $152.89. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.82 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries declared that its Board of Directors has authorized a share buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.94%. PPG Industries’s payout ratio is currently 43.92%.

Insider Activity

In other news, CEO Timothy M. Knavish bought 2,061 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the purchase, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,774,388.92. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. UBS Group decreased their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, KeyCorp decreased their target price on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

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.