Ieq Capital LLC Grows Holdings in PPG Industries, Inc. (NYSE:PPG)

Ieq Capital LLC boosted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 97.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,738 shares of the specialty chemicals company's stock after purchasing an additional 9,729 shares during the quarter. Ieq Capital LLC's holdings in PPG Industries were worth $2,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Insight Folios Inc grew its stake in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company's stock worth $294,000 after buying an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC boosted its holdings in shares of PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company's stock valued at $1,105,000 after acquiring an additional 92 shares in the last quarter. Mutual Advisors LLC grew its position in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after acquiring an additional 92 shares during the last quarter. Groupama Asset Managment increased its holdings in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock worth $1,027,000 after purchasing an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 95 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In related 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 value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company's stock.

PPG Industries Stock Performance

PPG Industries stock traded up $0.68 during mid-day trading on Wednesday, reaching $115.07. 1,450,649 shares of the company's stock were exchanged, compared to its average volume of 2,070,461. The firm has a market capitalization of $26.11 billion, a PE ratio of 24.33, a P/E/G ratio of 2.19 and a beta of 1.23. 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 business's fifty day simple moving average is $117.83 and its 200 day simple moving average is $123.15. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60.

PPG Industries (NYSE:PPG - Get Free Report) last posted 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%. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. StockNews.com cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus price target of $138.15.

PPG Industries Company 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.