Twin Tree Management LP Purchases 38,154 Shares of PPG Industries, Inc. (NYSE:PPG)

Twin Tree Management LP grew its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 131.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,183 shares of the specialty chemicals company's stock after purchasing an additional 38,154 shares during the period. Twin Tree Management LP's holdings in PPG Industries were worth $8,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. lifted its position in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares during the period. Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter valued at about $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries during the fourth quarter valued at about $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in PPG Industries in the fourth quarter worth about $44,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

Remove Ads

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $0.51 during trading on Friday, hitting $110.75. 3,145,097 shares of the company's stock traded hands, compared to its average volume of 2,139,559. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.60. The business has a 50-day simple moving average of $116.15 and a 200-day simple moving average of $121.91. The stock has a market capitalization of $25.14 billion, a P/E ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

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 (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%. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders 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 dividend yield of 2.46%. PPG Industries's payout ratio is 57.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on PPG. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Citigroup lowered their price target on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of "Hold" and an average price target of $138.15.

PPG Industries Company 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.