Y Intercept Hong Kong Ltd Increases Stake in PPG Industries, Inc. (NYSE:PPG)

Y Intercept Hong Kong Ltd boosted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 39.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,127 shares of the specialty chemicals company's stock after acquiring an additional 7,629 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in PPG Industries were worth $3,593,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the 2nd quarter worth $25,000. Pin Oak Investment Advisors Inc. raised its stake in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in PPG Industries during the third quarter worth about $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries in the second quarter worth about $37,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 1.1 %

PPG stock traded up $1.35 during trading on Monday, reaching $126.92. 3,125,592 shares of the stock were exchanged, compared to its average volume of 1,604,080. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm's 50 day moving average is $126.09 and its 200 day moving average is $126.69. The firm has a market cap of $29.44 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.14%. PPG Industries's payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PPG shares. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 27th. Mizuho reduced their target price on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. BMO Capital Markets reaffirmed an "outperform" rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. decreased their price target on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.93.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.