HUB Investment Partners LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,305 shares of the specialty chemicals company's stock, valued at approximately $395,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock worth $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its position in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company's stock worth $1,189,095,000 after acquiring an additional 485,597 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock valued at $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 valued at $316,349,000 after purchasing an additional 76,626 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.
PPG Industries Stock Performance
PPG Industries stock traded down $1.43 during mid-day trading on Tuesday, reaching $111.55. The company had a trading volume of 1,818,942 shares, compared to its average volume of 1,620,688. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.19 and a beta of 1.22. The company has a 50 day moving average of $115.96 and a 200-day moving average of $121.52. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61.
PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.
PPG Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is presently 57.51%.
Insider Activity at PPG Industries
In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have commented on PPG. UBS Group lowered their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada decreased their target price on 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. Finally, Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $138.15.
Read Our Latest Stock Analysis on PPG Industries
About PPG Industries
(
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.
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