Schnieders Capital Management LLC Acquires Shares of 1,504 PPG Industries, Inc. (NYSE:PPG)

Schnieders Capital Management LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,504 shares of the specialty chemicals company’s stock, valued at approximately $225,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wedmont Private Capital grew its holdings in shares of PPG Industries by 2.9% in the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock valued at $363,000 after purchasing an additional 70 shares in the last quarter. Barrett & Company Inc. grew its holdings in shares of PPG Industries by 10.6% in the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock valued at $114,000 after purchasing an additional 73 shares in the last quarter. CWA Asset Management Group LLC grew its holdings in shares of PPG Industries by 2.0% in the third quarter. CWA Asset Management Group LLC now owns 4,052 shares of the specialty chemicals company’s stock valued at $526,000 after purchasing an additional 78 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of PPG Industries by 20.9% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 462 shares of the specialty chemicals company’s stock valued at $69,000 after purchasing an additional 80 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its holdings in shares of PPG Industries by 5.8% in the fourth quarter. WASHINGTON TRUST Co now owns 1,712 shares of the specialty chemicals company’s stock valued at $256,000 after purchasing an additional 94 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.1 %

Shares of PPG stock traded up $0.09 on Wednesday, hitting $130.52. The stock had a trading volume of 1,642,353 shares, compared to its average volume of 1,783,702. The company has a quick ratio of 1.05, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $140.00 and a 200 day moving average price of $138.97. The company has a market cap of $30.61 billion, a PE ratio of 22.03, a P/E/G ratio of 1.57 and a beta of 1.28. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that PPG Industries, Inc. will post 8.47 earnings per share for the current fiscal year.

PPG Industries announced that its board has approved a share buyback program on Thursday, April 18th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders 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 annualized dividend and a yield of 1.99%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird restated an “outperform” rating and issued a $150.00 price target on shares of PPG Industries in a research report on Friday, January 19th. KeyCorp lowered their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup lowered their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday. Finally, Bank of America lowered their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.50.

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.