Capital Fund Management S.A. Has $12.12 Million Position in PPG Industries, Inc. (NYSE:PPG)

Capital Fund Management S.A. grew its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,430 shares of the specialty chemicals company's stock after acquiring an additional 30,364 shares during the period. Capital Fund Management S.A.'s holdings in PPG Industries were worth $12,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. grew its stake in shares of PPG Industries by 11.6% in the fourth quarter. Bessemer Group Inc. now owns 2,078 shares of the specialty chemicals company's stock valued at $249,000 after buying an additional 216 shares in the last quarter. DRW Securities LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $216,000. APG Asset Management N.V. acquired a new stake in PPG Industries during the 4th quarter valued at $14,708,000. Applied Finance Capital Management LLC increased its stake in PPG Industries by 5.3% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,847 shares of the specialty chemicals company's stock worth $579,000 after buying an additional 243 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in PPG Industries by 134.0% in the 4th quarter. Bank of Nova Scotia now owns 70,011 shares of the specialty chemicals company's stock worth $8,363,000 after buying an additional 40,095 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The shares were 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 in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Remove Ads

PPG Industries Stock Down 1.8 %

PPG Industries stock traded down $1.85 during mid-day trading on Tuesday, hitting $99.63. The company's stock had a trading volume of 1,731,458 shares, compared to its average volume of 1,799,194. The firm's 50 day moving average is $110.61 and its 200 day moving average is $118.75. 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 52-week low of $90.24 and a 52-week high of $137.24. The company has a market cap of $22.61 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued 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 return on equity of 23.78% and a net margin of 6.41%. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, February 21st. PPG Industries's payout ratio is 57.51%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PPG. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research 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. UBS Group cut their price target 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. JPMorgan Chase & Co. downgraded shares of PPG Industries from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $132.31.

PPG Industries 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.