Quadrature Capital Ltd Invests $617,000 in PPG Industries, Inc. (NYSE:PPG)

Quadrature Capital Ltd acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 4,656 shares of the specialty chemicals company's stock, valued at approximately $617,000.

A number of other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock worth $276,576,000 after buying an additional 368,410 shares in the last quarter. FMR LLC raised its holdings in PPG Industries by 68.3% in the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock valued at $115,757,000 after acquiring an additional 354,740 shares during the last quarter. International Assets Investment Management LLC lifted its stake in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock worth $56,538,000 after purchasing an additional 279,455 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock worth $65,905,000 after purchasing an additional 249,406 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of PPG Industries by 157.5% in the third quarter. Assenagon Asset Management S.A. now owns 316,161 shares of the specialty chemicals company's stock valued at $41,879,000 after purchasing an additional 193,402 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the company's stock in a transaction 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 sale, the vice president now owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PPG. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada reduced their price target on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 27th. BMO Capital Markets reaffirmed an "outperform" rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $149.93.

PPG Industries Trading Up 1.0 %

NYSE:PPG traded up $1.29 during trading hours on Monday, reaching $126.86. 3,111,708 shares of the stock were exchanged, compared to its average volume of 1,604,022. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average of $126.20 and a two-hundred day moving average of $126.71. The company has a market capitalization of $29.43 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.92 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's payout ratio is currently 43.11%.

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.