Lebenthal Global Advisors LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,426 shares of the specialty chemicals company's stock, valued at approximately $409,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. boosted its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in PPG Industries in the 3rd quarter valued at about $34,000. Hara Capital LLC bought a new stake in PPG Industries in the 3rd quarter valued at about $40,000. Finally, Albion Financial Group UT bought a new stake in PPG Industries in the 4th quarter valued at about $38,000. 81.86% of the stock is owned by hedge funds and other institutional investors.
PPG Industries Trading Down 1.0 %
Shares of NYSE:PPG traded down $1.22 during trading on Tuesday, reaching $123.07. 1,497,920 shares of the company traded hands, compared to its average volume of 2,046,284. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 1.93 and a beta of 1.24. PPG Industries, Inc. has a 52-week low of $113.00 and a 52-week high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The business's fifty day moving average is $121.19 and its 200-day moving average is $124.64.
PPG Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on PPG. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. StockNews.com cut PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 20th. BMO Capital Markets reiterated an "outperform" rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada decreased their price target on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 22nd. Finally, Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, PPG Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.23.
Read Our Latest Stock Report on PPG
Insider Activity
In related news, VP Anne M. Foulkes sold 1,985 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company's stock.
PPG Industries Profile
(
Free Report)
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.
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