Creative Planning increased its position in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 3.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 40,855 shares of the specialty chemicals company’s stock after buying an additional 1,216 shares during the period. Creative Planning’s holdings in PPG Industries were worth $4,522,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Kesler Norman & Wride LLC raised its stake in PPG Industries by 1.0% during the third quarter. Kesler Norman & Wride LLC now owns 8,448 shares of the specialty chemicals company’s stock worth $935,000 after buying an additional 86 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 87 shares during the last quarter. McDonald Partners LLC raised its stake in PPG Industries by 2.6% during the third quarter. McDonald Partners LLC now owns 3,594 shares of the specialty chemicals company’s stock worth $398,000 after buying an additional 91 shares during the last quarter. Harfst & Associates Inc. raised its stake in PPG Industries by 1.5% during the third quarter. Harfst & Associates Inc. now owns 6,268 shares of the specialty chemicals company’s stock worth $694,000 after buying an additional 93 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in PPG Industries by 8.3% in the third quarter. Sound Income Strategies LLC now owns 1,299 shares of the specialty chemicals company’s stock valued at $144,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.
PPG Industries Stock Up 0.5 %
PPG opened at $130.97 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. The stock has a market cap of $30.78 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.18. PPG Industries, Inc. has a twelve month low of $107.06 and a twelve month high of $159.16. The company’s 50-day moving average price is $129.61 and its two-hundred day moving average price is $124.03.
PPG Industries Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 17th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, February 16th. PPG Industries’s payout ratio is 57.27%.
Wall Street Analyst Weigh In
Several research firms have weighed in on PPG. Vertical Research downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PPG Industries from $128.00 to $145.00 in a research note on Monday. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Monday. Credit Suisse Group boosted their target price on shares of PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a research report on Friday, January 20th. Finally, The Goldman Sachs Group began coverage on shares of PPG Industries in a research report on Thursday, October 13th. They set a “buy” rating and a $145.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $135.55.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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