3,058 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,058 shares of the specialty chemicals company's stock, valued at approximately $365,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of PPG Industries by 676.5% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 33,919 shares of the specialty chemicals company's stock worth $4,052,000 after purchasing an additional 29,551 shares in the last quarter. Aviva PLC increased its position in PPG Industries by 261.6% in the fourth quarter. Aviva PLC now owns 140,641 shares of the specialty chemicals company's stock worth $16,800,000 after buying an additional 101,742 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of PPG Industries in the fourth quarter worth about $9,892,000. Westpac Banking Corp lifted its position in shares of PPG Industries by 1.8% during the 4th quarter. Westpac Banking Corp now owns 31,130 shares of the specialty chemicals company's stock valued at $3,718,000 after buying an additional 558 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

NYSE:PPG traded up $2.22 during trading hours on Friday, reaching $100.75. The stock had a trading volume of 1,906,436 shares, compared to its average volume of 1,799,980. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $22.87 billion, a PE ratio of 21.30, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a 50 day moving average price of $110.83 and a two-hundred day moving average price of $119.09.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts anticipate 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. Investors of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Analyst Ratings Changes

Several brokerages have weighed in on PPG. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and lowered 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 target price 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. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Finally, StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $134.15.

Insider Activity 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 transaction 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 represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by insiders.

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.