Cooke & Bieler LP Makes New $107.85 Million Investment in PPG Industries, Inc. (NYSE:PPG)

Cooke & Bieler LP acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 902,889 shares of the specialty chemicals company's stock, valued at approximately $107,850,000. Cooke & Bieler LP owned approximately 0.39% of PPG Industries as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PPG. Miller Financial Services LLC purchased a new position in shares of PPG Industries in the 4th quarter worth about $216,000. Morton Community Bank grew its holdings in shares of PPG Industries by 2.7% during the fourth quarter. Morton Community Bank now owns 22,053 shares of the specialty chemicals company's stock worth $2,634,000 after purchasing an additional 570 shares in the last quarter. Independent Advisor Alliance boosted its stake in PPG Industries by 15.7% in the fourth quarter. Independent Advisor Alliance now owns 11,226 shares of the specialty chemicals company's stock worth $1,341,000 after buying an additional 1,524 shares in the last quarter. Moran Wealth Management LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $5,039,000. Finally, Larson Financial Group LLC raised its holdings in shares of PPG Industries by 13.6% during the fourth quarter. Larson Financial Group LLC now owns 4,493 shares of the specialty chemicals company's stock valued at $537,000 after acquiring an additional 539 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PPG shares. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup dropped their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Finally, 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 report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $138.15.

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Insider Buying and Selling

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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, 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 accessible through this link. 0.55% of the stock is owned by insiders.

PPG Industries Trading Down 0.7 %

Shares of NYSE:PPG opened at $114.71 on Tuesday. The stock has a 50 day moving average of $116.74 and a 200 day moving average of $122.68. The company has a market cap of $26.03 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries's dividend payout ratio is presently 57.51%.

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.

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