Grantham Mayo Van Otterloo & Co. LLC Has $4.05 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 676.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,919 shares of the specialty chemicals company's stock after buying an additional 29,551 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC's holdings in PPG Industries were worth $4,052,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of PPG Industries by 13.5% during the third quarter. HighTower Advisors LLC now owns 74,837 shares of the specialty chemicals company's stock valued at $9,914,000 after acquiring an additional 8,905 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in PPG Industries by 10.0% in the third quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company's stock valued at $4,824,000 after purchasing an additional 3,300 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in PPG Industries by 146.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 7,560 shares of the specialty chemicals company's stock valued at $1,001,000 after purchasing an additional 4,488 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in PPG Industries during the 3rd quarter worth approximately $617,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at approximately $838,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PPG. Royal Bank of Canada decreased their price target on shares of 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. StockNews.com lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Mizuho cut 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. The Goldman Sachs Group decreased their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on PPG Industries from $130.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $134.15.

PPG Industries Price Performance

Shares of PPG traded up $2.22 during midday trading on Friday, reaching $100.75. The stock had a trading volume of 1,906,436 shares, compared to its average volume of 1,798,791. The firm's 50 day moving average price is $110.83 and its 200-day moving average price is $118.98. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market capitalization of $22.87 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the 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 completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.