Invesco Ltd. Purchases 271,699 Shares of PPG Industries, Inc. (NYSE:PPG)

Invesco Ltd. increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,726,630 shares of the specialty chemicals company's stock after purchasing an additional 271,699 shares during the period. Invesco Ltd. owned approximately 2.04% of PPG Industries worth $564,596,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the 4th quarter valued at approximately $27,000. Prudent Man Investment Management Inc. bought a new stake in PPG Industries in the fourth quarter valued at $36,000. Albion Financial Group UT acquired a new position in PPG Industries during the fourth quarter worth $38,000. Crews Bank & Trust bought a new position in shares of PPG Industries during the fourth quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PPG shares. Citigroup cut their price target on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 4th. 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 research note on Wednesday, February 12th. Finally, Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of "Hold" and a consensus target price of $134.15.

PPG Industries Trading Up 1.0 %

PPG traded up $1.03 during midday trading on Monday, reaching $101.76. 233,981 shares of the company were exchanged, compared to its average volume of 1,792,723. The stock has a market capitalization of $23.10 billion, a P/E ratio of 21.51, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock's 50-day simple moving average is $110.83 and its 200 day simple moving average is $118.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG - Get Free Report) last issued its 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 net margin of 6.41% and a return on equity of 23.78%. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.67%. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

Insider Transactions at PPG Industries

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