PPG Industries, Inc. (NYSE:PPG) Position Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd cut its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 35.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,938 shares of the specialty chemicals company's stock after selling 2,763 shares during the period. Vinva Investment Management Ltd's holdings in PPG Industries were worth $588,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. PUREfi Wealth LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at approximately $279,000. PFW Advisors LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $868,000. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth about $4,050,000. Charles Schwab Investment Management Inc. grew its stake in PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock worth $340,654,000 after acquiring an additional 15,161 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of PPG Industries in the fourth quarter valued at $2,944,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 1.3 %

Shares of NYSE PPG traded down $1.43 during midday trading on Tuesday, reaching $111.55. 1,818,942 shares of the company's stock were exchanged, compared to its average volume of 1,620,688. 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, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. The business's fifty day moving average price is $115.96 and its two-hundred day moving average price is $121.52. The stock has a market capitalization of $25.32 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

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PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade 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 accessible through this link. Insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. Seaport Res Ptn downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, KeyCorp lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.