Mizuho Securities USA LLC boosted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 45.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,988 shares of the specialty chemicals company's stock after buying an additional 6,860 shares during the period. Mizuho Securities USA LLC's holdings in PPG Industries were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its position in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the period. Albion Financial Group UT purchased a new position in shares of PPG Industries during the 4th quarter valued at about $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the 4th quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 81.86% of the company's stock.
PPG Industries Price Performance
PPG traded down $1.43 on Tuesday, reaching $111.55. 1,818,942 shares of the company's stock were exchanged, compared to its average volume of 1,620,423. The stock has a market cap of $25.32 billion, a PE ratio of 23.58, a P/E/G ratio of 2.19 and a beta of 1.22. 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, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The stock's fifty day moving average price is $116.06 and its 200-day moving average price is $121.61.
PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.
PPG Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders 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 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 the business's stock in a transaction that occurred 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 of the company's stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PPG. JPMorgan Chase & Co. downgraded PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. 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 note on Friday, January 31st. Finally, Barclays restated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $138.15.
Check Out Our Latest Report 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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