Pictet Asset Management Holding SA Has $16.73 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Pictet Asset Management Holding SA increased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,054 shares of the specialty chemicals company's stock after purchasing an additional 18,286 shares during the period. Pictet Asset Management Holding SA owned 0.06% of PPG Industries worth $16,729,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the fourth quarter worth $27,000. Albion Financial Group UT acquired a new stake in PPG Industries in the fourth quarter worth about $38,000. Crews Bank & Trust acquired a new position in PPG Industries during the 4th quarter valued at about $42,000. Sugar Maple Asset Management LLC bought a new position in PPG Industries in the fourth quarter valued at approximately $44,000. Finally, Millstone Evans Group LLC bought a new position in PPG Industries in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Insider Buying and Selling

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 transaction of $568,080.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Remove Ads

PPG Industries Stock Down 5.5 %

Shares of PPG traded down $6.09 during midday trading on Thursday, hitting $104.02. The stock had a trading volume of 2,229,928 shares, compared to its average volume of 1,747,246. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a 50 day simple moving average of $114.61 and a two-hundred day simple moving average of $120.85. PPG Industries, Inc. has a twelve month low of $103.93 and a twelve month high of $143.98. 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 (NYSE:PPG - Get Free Report) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.61%. PPG Industries's payout ratio is presently 57.51%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PPG shares. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Royal Bank of Canada cut their target price 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. KeyCorp cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and cut their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, UBS Group reduced their price objective 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. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, PPG Industries currently has an average rating of "Hold" and an average price target of $137.77.

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.