TCW Group Inc. Acquires New Holdings in PPG Industries, Inc. (NYSE:PPG)

TCW Group Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,379 shares of the specialty chemicals company's stock, valued at approximately $1,359,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of Stockton increased its position in shares of PPG Industries by 5.1% during the fourth quarter. Bank of Stockton now owns 5,072 shares of the specialty chemicals company's stock valued at $606,000 after acquiring an additional 244 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in PPG Industries in the fourth quarter valued at approximately $48,000. Legacy Capital Group California Inc. purchased a new stake in shares of PPG Industries in the 4th quarter valued at $557,000. Nicholson Wealth Management Group LLC boosted its holdings in PPG Industries by 164.3% during the 4th quarter. Nicholson Wealth Management Group LLC now owns 12,636 shares of the specialty chemicals company's stock valued at $1,509,000 after acquiring an additional 7,855 shares during the period. Finally, Mattern Capital Management LLC grew its position in PPG Industries by 13.5% in the 4th quarter. Mattern Capital Management LLC now owns 68,871 shares of the specialty chemicals company's stock valued at $8,227,000 after acquiring an additional 8,204 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PPG. Barclays reissued an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Royal Bank of Canada cut their price objective on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.15.

PPG Industries Stock Up 0.0 %

Shares of PPG Industries stock traded up $0.05 during trading hours on Thursday, hitting $115.09. The company had a trading volume of 270,151 shares, compared to its average volume of 2,022,086. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. The company has a market cap of $26.12 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company's 50-day moving average is $117.83 and its two-hundred day moving average is $123.15.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

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.