GDS Wealth Management Purchases New Holdings in PPG Industries, Inc. (NYSE:PPG)

GDS Wealth Management purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel.com reports. The firm purchased 3,189 shares of the specialty chemicals company’s stock, valued at approximately $477,000.

Other large investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC bought a new position in PPG Industries during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its position in PPG Industries by 588.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares during the period. CVA Family Office LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in PPG Industries during the 4th quarter valued at $29,000. Finally, Financial Connections Group Inc. bought a new position in PPG Industries during the 4th quarter valued at $30,000. Institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling

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 shares were acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries 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 sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy M. Knavish acquired 2,061 shares of PPG Industries stock in a transaction on Wednesday, May 8th. The stock was acquired 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 owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

PPG Industries Stock Up 1.2 %

NYSE PPG traded up $1.56 during trading on Thursday, hitting $134.35. 1,271,735 shares of the company traded hands, compared to its average volume of 1,767,595. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The business has a fifty day simple moving average of $137.70 and a 200 day simple moving average of $139.11. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $31.51 billion, a P/E ratio of 22.69, a PEG ratio of 1.65 and a beta of 1.30.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current year.

PPG Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. The ex-dividend date of this dividend 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 presently 43.92%.

Analyst Ratings Changes

A number of equities analysts have issued reports on PPG shares. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. UBS Group reduced their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price 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.