Charles Schwab Investment Management Inc. lifted its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,648,379 shares of the specialty chemicals company's stock after buying an additional 76,626 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.14% of PPG Industries worth $316,349,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of PPG Industries by 25.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 22,077 shares of the specialty chemicals company's stock worth $2,637,000 after purchasing an additional 4,522 shares in the last quarter. Plato Investment Management Ltd raised its position in PPG Industries by 1.0% in the 4th quarter. Plato Investment Management Ltd now owns 24,191 shares of the specialty chemicals company's stock worth $2,900,000 after purchasing an additional 235 shares during the last quarter. Jones Financial Companies Lllp raised its position in PPG Industries by 25.8% in the 4th quarter. Jones Financial Companies Lllp now owns 1,961 shares of the specialty chemicals company's stock worth $234,000 after purchasing an additional 402 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in PPG Industries by 114.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,325 shares of the specialty chemicals company's stock worth $158,000 after buying an additional 708 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in PPG Industries in the 4th quarter valued at $134,000. Institutional investors and hedge funds own 81.86% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on PPG shares. Royal Bank of Canada dropped their target price on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $138.15.
Read Our Latest Stock Analysis on PPG Industries
PPG Industries Trading Up 0.1 %
PPG Industries stock traded up $0.10 during mid-day trading on Friday, hitting $115.47. 2,170,716 shares of the company's stock were exchanged, compared to its average volume of 1,622,129. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. 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 firm has a market capitalization of $26.21 billion, a P/E ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The company's 50 day simple moving average is $116.82 and its 200-day simple moving average is $122.76.
PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.
PPG Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.
Insider Transactions at PPG Industries
In other news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by insiders.
PPG Industries Company Profile
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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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