Equity Investment Corp raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 29.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 840,139 shares of the specialty chemicals company's stock after purchasing an additional 190,838 shares during the quarter. PPG Industries accounts for 2.4% of Equity Investment Corp's investment portfolio, making the stock its 19th biggest holding. Equity Investment Corp owned about 0.36% of PPG Industries worth $100,355,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Heritage Investors Management Corp acquired a new stake in shares of PPG Industries in the 4th quarter valued at approximately $251,000. Advisor OS LLC acquired a new position in PPG Industries during the fourth quarter worth $615,000. Illinois Municipal Retirement Fund raised its position in PPG Industries by 10.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 56,505 shares of the specialty chemicals company's stock worth $6,750,000 after acquiring an additional 5,422 shares in the last quarter. Vaughan David Investments LLC IL lifted its holdings in PPG Industries by 2.9% in the fourth quarter. Vaughan David Investments LLC IL now owns 288,371 shares of the specialty chemicals company's stock valued at $34,446,000 after acquiring an additional 8,242 shares during the period. Finally, FourThought Financial Partners LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth $458,000. Institutional investors and hedge funds own 81.86% of the company's stock.
PPG Industries Price Performance
NYSE PPG opened at $115.07 on Thursday. The company has a 50-day moving average price of $117.83 and a two-hundred day moving average price of $123.15. PPG Industries, Inc. has a 52 week low of $110.20 and a 52 week high of $145.60. The stock has a market cap of $26.11 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. 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 (NYSE:PPG - Get Free Report) last issued 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 return on equity of 23.78% and a net margin of 6.41%. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.
PPG Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is 57.51%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research 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. lowered PPG Industries from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.15.
Get Our Latest Report on PPG Industries
Insider Activity at PPG Industries
In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.56% of the company's stock.
PPG Industries Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PPG Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PPG Industries wasn't on the list.
While PPG Industries currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
