Franklin Resources Inc. Increases Position in PPG Industries, Inc. (NYSE:PPG)

Franklin Resources Inc. boosted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,356,722 shares of the specialty chemicals company's stock after purchasing an additional 220,152 shares during the quarter. Franklin Resources Inc. owned about 1.45% of PPG Industries worth $400,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Mutual Advisors LLC raised its position in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock valued at $319,000 after buying an additional 92 shares in the last quarter. Groupama Asset Managment increased its stake in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after acquiring an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock valued at $51,000 after purchasing an additional 95 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock worth $990,000 after purchasing an additional 103 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in shares of PPG Industries by 18.4% in the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock worth $81,000 after purchasing an additional 105 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PPG shares. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered shares of PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Wells Fargo & Company lowered their price target on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $138.15.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

PPG Industries Trading Up 1.0 %

PPG stock traded up $1.08 on Wednesday, reaching $110.03. The company's stock had a trading volume of 3,835,792 shares, compared to its average volume of 1,743,062. The firm has a market cap of $24.97 billion, a PE ratio of 23.26, a PEG ratio of 2.19 and a beta of 1.22. The business has a fifty day simple moving average of $114.61 and a two-hundred day simple moving average of $120.85. PPG Industries, Inc. has a 12-month low of $105.64 and a 12-month 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 quarterly 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 return on equity of 23.78% and a net margin of 6.41%. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.47%. PPG Industries's dividend payout ratio (DPR) is 57.51%.

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.