Smith Shellnut Wilson LLC ADV Acquires New Holdings in PPG Industries, Inc. (PPG)

Smith Shellnut Wilson LLC ADV acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,618 shares of the specialty chemicals company’s stock, valued at approximately $393,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new stake in shares of PPG Industries during the second quarter worth $105,000. First Interstate Bank lifted its position in shares of PPG Industries by 3.1% during the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 35 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of PPG Industries by 9.2% during the second quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 108 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of PPG Industries during the second quarter worth $179,000. Finally, Bristlecone Advisors LLC purchased a new stake in shares of PPG Industries during the third quarter worth $179,000. 75.09% of the stock is owned by institutional investors and hedge funds.

Shares of PPG Industries, Inc. (NYSE PPG) traded up $0.36 during mid-day trading on Thursday, hitting $116.25. The company had a trading volume of 1,292,100 shares, compared to its average volume of 1,439,327. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85. The stock has a market capitalization of $29,060.00, a P/E ratio of 19.67, a PEG ratio of 2.31 and a beta of 1.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the business posted $1.56 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. sell-side analysts predict that PPG Industries, Inc. will post 5.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, November 10th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. PPG Industries’s dividend payout ratio (DPR) is presently 35.86%.

PPG has been the topic of several recent research reports. Robert W. Baird restated a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research report on Friday, September 1st. Bank of America set a $120.00 target price on PPG Industries and gave the stock a “hold” rating in a research report on Friday, October 20th. Royal Bank of Canada restated a “hold” rating and set a $109.00 target price on shares of PPG Industries in a research report on Wednesday, September 13th. Citigroup increased their target price on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. PPG Industries presently has an average rating of “Hold” and an average price target of $119.40.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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