AlphaQuest LLC Sells 2,391 Shares of PPG Industries, Inc. (NYSE:PPG)

AlphaQuest LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 46.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,788 shares of the specialty chemicals company's stock after selling 2,391 shares during the period. AlphaQuest LLC's holdings in PPG Industries were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PPG. Raymond James Financial Inc. acquired a new position in PPG Industries in the fourth quarter worth approximately $82,071,000. State Street Corp boosted its stake in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock worth $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company's stock worth $1,189,095,000 after acquiring an additional 485,597 shares during the last quarter. FMR LLC raised its position in shares of PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after purchasing an additional 354,740 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company's stock valued at $62,474,000 after purchasing an additional 206,853 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

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PPG Industries Stock Down 0.3 %

Shares of NYSE PPG traded down $0.33 during trading hours on Tuesday, hitting $113.51. The stock had a trading volume of 1,368,473 shares, compared to its average volume of 1,616,618. The company has a market capitalization of $25.76 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.19 and a beta of 1.22. The firm's 50-day moving average price is $116.33 and its two-hundred day moving average price is $122.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.40%. PPG Industries's dividend payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In related 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 completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Citigroup cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $138.15.

PPG Industries 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.