Ieq Capital LLC Buys 9,729 Shares of PPG Industries, Inc. (NYSE:PPG)

Ieq Capital LLC lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 97.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,738 shares of the specialty chemicals company’s stock after purchasing an additional 9,729 shares during the period. Ieq Capital LLC’s holdings in PPG Industries were worth $2,358,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Insight Folios Inc grew its holdings in PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the period. Alpha DNA Investment Management LLC lifted its position in shares of PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after buying an additional 92 shares during the last quarter. Mutual Advisors LLC boosted its stake in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after acquiring an additional 92 shares during the period. Groupama Asset Managment increased its holdings 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 acquiring an additional 93 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $114.88 on Monday. The company has a market capitalization of $26.65 billion, a P/E ratio of 24.29, a PEG ratio of 2.19 and a beta of 1.23. The company has a fifty day moving average price of $118.29 and a 200-day moving average price of $123.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Royal Bank of Canada lowered their price objective 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. Wells Fargo & Company reduced 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. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group cut their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

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.