Landing Point Financial Group LLC Acquires Shares of 3,222 PPG Industries, Inc. (NYSE:PPG)

Landing Point Financial Group LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,222 shares of the specialty chemicals company's stock, valued at approximately $370,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of PPG Industries in the 4th quarter valued at about $470,535,000. First Eagle Investment Management LLC lifted its stake in PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock valued at $381,876,000 after buying an additional 1,858,895 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Cooke & Bieler LP acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $107,850,000. Finally, Vanguard Group Inc. increased its stake in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Down 1.5 %

Shares of PPG stock traded down $1.58 on Friday, hitting $102.55. The stock had a trading volume of 1,129,511 shares, compared to its average volume of 1,774,531. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business has a 50 day moving average of $108.15 and a 200 day moving average of $117.29. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data 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 expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.65%. PPG Industries's dividend payout ratio is currently 57.51%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho decreased 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 decreased their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $130.67.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

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.