Wellington Management Group LLP Acquires 1,590,041 Shares of PPG Industries, Inc. (NYSE:PPG)

Wellington Management Group LLP grew its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,567,051 shares of the specialty chemicals company's stock after buying an additional 1,590,041 shares during the quarter. Wellington Management Group LLP owned 4.66% of PPG Industries worth $1,262,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz SE bought a new stake in PPG Industries during the fourth quarter worth $1,513,000. Beutel Goodman & Co Ltd. lifted its position in shares of PPG Industries by 0.3% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 3,338,384 shares of the specialty chemicals company's stock worth $398,770,000 after buying an additional 10,116 shares during the last quarter. Allstate Corp acquired a new stake in PPG Industries in the fourth quarter valued at about $870,000. DnB Asset Management AS boosted its stake in PPG Industries by 1.9% in the fourth quarter. DnB Asset Management AS now owns 50,726 shares of the specialty chemicals company's stock valued at $6,059,000 after buying an additional 946 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in PPG Industries by 15.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 140,054 shares of the specialty chemicals company's stock valued at $16,729,000 after acquiring an additional 18,286 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm'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 value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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PPG Industries Trading Down 5.4 %

NYSE:PPG traded down $5.98 on Thursday, reaching $104.13. 1,445,969 shares of the stock traded hands, compared to its average volume of 1,742,333. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 1-year low of $104.12 and a 1-year high of $143.98. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company's 50 day moving average is $114.61 and its 200-day moving average is $120.85.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.61%. PPG Industries's dividend payout ratio is presently 57.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PPG shares. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Seaport Res Ptn downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price on PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $137.77.

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.