Dana Investment Advisors Inc. Purchases Shares of 15,407 PPG Industries, Inc. (NYSE:PPG)

Dana Investment Advisors Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,407 shares of the specialty chemicals company's stock, valued at approximately $1,840,000.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 valued at $1,189,095,000 after acquiring an additional 485,597 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock worth $403,049,000 after buying an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company's stock worth $316,349,000 after buying an additional 76,626 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PPG Industries by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company's stock worth $248,650,000 after buying an additional 36,047 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PPG. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, PPG Industries currently has an average rating of "Hold" and an average target price of $138.15.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

PPG Industries Trading Up 0.1 %

Shares of NYSE:PPG traded up $0.10 during midday trading on Friday, hitting $115.47. The company had a trading volume of 2,170,716 shares, compared to its average volume of 1,622,129. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.61. 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 stock has a market cap of $26.21 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The firm has a fifty day simple moving average of $116.82 and a 200 day simple moving average of $122.76.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. On average, analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. PPG Industries's dividend payout ratio is currently 57.51%.

About PPG Industries

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.