XTX Topco Ltd Makes New $2.49 Million Investment in PPG Industries, Inc. (NYSE:PPG)

XTX Topco Ltd bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 20,862 shares of the specialty chemicals company's stock, valued at approximately $2,492,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after purchasing an additional 93,455 shares during the period. Invesco Ltd. grew its stake in PPG Industries by 6.1% during the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after purchasing an additional 271,699 shares during the period. Finally, Norges Bank acquired a new position in PPG Industries in the fourth quarter valued at approximately $470,535,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Trading Up 1.6 %

PPG traded up $1.58 on Friday, hitting $100.00. 2,240,529 shares of the company were exchanged, compared to its average volume of 1,801,972. The stock has a market capitalization of $22.70 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a fifty day simple moving average of $109.37 and a two-hundred day simple moving average of $118.04.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.72%. PPG Industries's dividend payout ratio is 57.51%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research reports. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on shares of PPG Industries from $130.00 to $115.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Mizuho dropped their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $132.31.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.

About PPG Industries

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.