Quantessence Capital LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Quantessence Capital LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,808 shares of the specialty chemicals company's stock, valued at approximately $335,000.

A number of other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the fourth quarter worth about $27,000. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries during the 4th quarter valued at about $36,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $38,000. Crews Bank & Trust purchased a new position in PPG Industries in the 4th quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries during the fourth quarter valued at $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

PPG Industries Price Performance

Shares of NYSE:PPG traded down $1.48 during mid-day trading on Friday, reaching $102.65. The stock had a trading volume of 1,937,700 shares, compared to its average volume of 1,777,664. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The business's 50 day moving average price is $107.82 and its 200 day moving average price is $117.12. The company has a market cap of $23.30 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

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 net margin of 6.41% and a return on equity of 23.78%. Research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio is currently 57.51%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PPG shares. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, February 6th. Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. UBS Group decreased their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Finally, Argus downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $130.67.

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.