Two Sigma Securities LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Two Sigma Securities LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,122 shares of the specialty chemicals company's stock, valued at approximately $612,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PPG Industries in the fourth quarter valued at $470,535,000. Kovitz Investment Group Partners LLC lifted its holdings in PPG Industries by 482.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock worth $381,876,000 after buying an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Mizuho reduced their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a 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 report on Tuesday, February 4th. Finally, UBS Group reduced 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. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $130.67.

PPG Industries Stock Up 0.7 %

Shares of NYSE:PPG traded up $0.73 during trading on Tuesday, hitting $103.69. The company's stock had a trading volume of 1,839,833 shares, compared to its average volume of 1,782,220. The company has a market capitalization of $23.54 billion, a PE ratio of 21.92, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock's 50-day moving average price is $107.54 and its two-hundred day moving average price is $116.80.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. During the same period last year, the business posted $1.87 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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 paid a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.62%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the 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 transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company's stock.

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.