Regents Gate Capital LLP Acquires New Shares in PPG Industries, Inc. (NYSE:PPG)

Regents Gate Capital LLP bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 24,254 shares of the specialty chemicals company’s stock, valued at approximately $2,897,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. increased its holdings 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 valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the 3rd quarter worth $34,000. Albion Financial Group UT bought a new stake in PPG Industries during the fourth quarter valued at about $38,000. Finally, Hara Capital LLC purchased a new position in PPG Industries in the third quarter valued at about $40,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 0.9 %

NYSE:PPG opened at $114.87 on Monday. The firm has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. The company’s fifty day moving average price is $120.03 and its 200-day moving average price is $123.82. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60. 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) last released its quarterly earnings data 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 net margin of 6.41% and a return on equity of 23.78%. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PPG shares. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $140.46.

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.