PPG Industries, Inc. (NYSE:PPG) Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 138.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,196,951 shares of the specialty chemicals company's stock after purchasing an additional 1,858,895 shares during the quarter. First Eagle Investment Management LLC owned 1.38% of PPG Industries worth $381,876,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Intact Investment Management Inc. acquired a new position in PPG Industries in the fourth quarter valued at approximately $67,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PPG Industries in the fourth quarter valued at approximately $315,000. Truvestments Capital LLC lifted its holdings in PPG Industries by 13.3% in the fourth quarter. Truvestments Capital LLC now owns 1,657 shares of the specialty chemicals company's stock valued at $198,000 after acquiring an additional 194 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in PPG Industries by 14.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,995 shares of the specialty chemicals company's stock valued at $716,000 after acquiring an additional 738 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in PPG Industries by 8.8% in the fourth quarter. HighTower Advisors LLC now owns 81,394 shares of the specialty chemicals company's stock valued at $9,723,000 after acquiring an additional 6,557 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company's 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 owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPG shares. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. UBS Group reduced their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, PPG Industries presently has an average rating of "Hold" and an average price target of $138.15.

PPG Industries Trading Down 0.3 %

NYSE:PPG traded down $0.33 during trading hours on Tuesday, hitting $113.51. The company had a trading volume of 1,368,473 shares, compared to its average volume of 1,616,618. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a 50-day moving average of $116.33 and a 200 day moving average of $122.16. The company has a market cap of $25.76 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 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.