Geode Capital Management LLC Grows Stake in PPG Industries, Inc. (NYSE:PPG)

Geode Capital Management LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,453,017 shares of the specialty chemicals company's stock after purchasing an additional 9,522 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of PPG Industries worth $719,802,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Connections Group Inc. bought a new stake in shares of PPG Industries in the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. raised its position in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP bought a new stake in PPG Industries in the third quarter worth $34,000. Rothschild Investment LLC purchased a new stake in PPG Industries during the second quarter valued at about $37,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries during the third quarter valued at about $40,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 1.2 %

Shares of NYSE PPG traded up $1.43 during midday trading on Thursday, hitting $124.02. The stock had a trading volume of 1,717,213 shares, compared to its average volume of 1,608,796. The business's 50 day moving average is $125.82 and its 200-day moving average is $126.62. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a market cap of $28.77 billion, a P/E ratio of 19.43, a PEG ratio of 1.92 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. During the same period last year, the business earned $2.07 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, November 12th. PPG Industries's dividend payout ratio is currently 43.11%.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPG shares. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their price objective on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. StockNews.com downgraded shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 27th. BMO Capital Markets reissued an "outperform" rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of "Moderate Buy" and an average price target of $149.93.

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.