Sei Investments Co. Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Sei Investments Co. boosted its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 130.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,985 shares of the specialty chemicals company's stock after buying an additional 79,117 shares during the quarter. Sei Investments Co. owned approximately 0.06% of PPG Industries worth $16,724,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Cerity Partners LLC raised its position in PPG Industries by 11.1% during the 3rd quarter. Cerity Partners LLC now owns 47,279 shares of the specialty chemicals company's stock worth $6,263,000 after purchasing an additional 4,705 shares during the last quarter. Bank of Montreal Can increased its position in PPG Industries by 13.5% during the 3rd quarter. Bank of Montreal Can now owns 346,860 shares of the specialty chemicals company's stock valued at $46,673,000 after purchasing an additional 41,167 shares during the period. FMR LLC raised its holdings in PPG Industries by 68.3% during the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after purchasing an additional 354,740 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of PPG Industries in the 3rd quarter worth approximately $79,000. Finally, Transamerica Financial Advisors Inc. boosted its stake in shares of PPG Industries by 54.1% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,165 shares of the specialty chemicals company's stock valued at $155,000 after purchasing an additional 409 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

PPG Industries Stock Down 0.2 %

Shares of PPG Industries stock traded down $0.18 during trading hours on Monday, reaching $107.26. The company's stock had a trading volume of 958,113 shares, compared to its average volume of 1,720,481. The company has a market capitalization of $24.34 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.19 and a beta of 1.22. The stock's fifty day simple moving average is $115.37 and its two-hundred day simple moving average is $121.17. PPG Industries, Inc. has a one year low of $105.64 and a one year high of $145.61. 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 announced its quarterly 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 net margin of 6.41% and a return on equity of 23.78%. On average, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared 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 2.54%. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PPG shares. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Mizuho dropped their price target on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada cut their price target on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 4th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $138.15.

About PPG Industries

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.