American Century Companies Inc. Has $72.24 Million Stake in PPG Industries, Inc. (NYSE:PPG)

American Century Companies Inc. grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 171.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 604,758 shares of the specialty chemicals company’s stock after acquiring an additional 382,366 shares during the period. American Century Companies Inc.’s holdings in PPG Industries were worth $72,238,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Mutual Advisors LLC grew its holdings in PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares during the period. Groupama Asset Managment boosted its position in shares of PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after purchasing an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the period. Kingsview Wealth Management LLC increased its position in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares in the last quarter. Finally, Sachetta LLC raised its stake in PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after buying an additional 105 shares during the period. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company decreased their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $138.15.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction 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 represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Trading Down 1.3 %

Shares of PPG Industries stock opened at $111.55 on Wednesday. The stock has a fifty day moving average price of $115.96 and a 200-day moving average price of $121.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market cap of $25.32 billion, a PE ratio of 23.58, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) 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 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 year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors 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 yield of 2.44%. PPG Industries’s payout ratio is 57.51%.

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.