NEOS Investment Management LLC Purchases 2,483 Shares of PPG Industries, Inc. (NYSE:PPG)

NEOS Investment Management LLC grew its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,183 shares of the specialty chemicals company's stock after purchasing an additional 2,483 shares during the period. NEOS Investment Management LLC's holdings in PPG Industries were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. PUREfi Wealth LLC purchased a new stake in PPG Industries during the fourth quarter worth $279,000. PFW Advisors LLC purchased a new stake in shares of PPG Industries in the 4th quarter worth about $868,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the 4th quarter valued at about $4,050,000. Vanguard Group Inc. raised its position in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $2,944,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PPG shares. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Royal Bank of Canada cut their price target on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a report on Tuesday, February 4th. UBS Group cut their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Finally, StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $138.15.

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Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

PPG Industries Stock Up 0.6 %

Shares of PPG stock traded up $0.63 during mid-day trading on Wednesday, reaching $109.58. 2,822,884 shares of the company were exchanged, compared to its average volume of 1,736,901. The business's 50 day simple moving average is $114.86 and its 200 day simple moving average is $120.92. The company has a market capitalization of $24.87 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $143.98. 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 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%. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is currently 57.51%.

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.