PPG Industries, Inc. (NYSE:PPG) Shares Bought by Jmac Enterprises LLC

Jmac Enterprises LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,400 shares of the specialty chemicals company’s stock after purchasing an additional 800 shares during the quarter. Jmac Enterprises LLC’s holdings in PPG Industries were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. State Street Corp boosted its holdings in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP raised its position in shares of PPG Industries by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the period. FMR LLC boosted its holdings in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after acquiring an additional 354,740 shares during the last quarter. International Assets Investment Management LLC grew its position in PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after acquiring an additional 279,455 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after acquiring an additional 206,853 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price target 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. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Trading Up 0.7 %

Shares of PPG opened at $114.91 on Wednesday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The stock has a 50-day moving average price of $119.80 and a 200 day moving average price of $123.73. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a market capitalization of $26.66 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last announced its earnings results 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 net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

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.