HUB Investment Partners LLC Takes $395,000 Position in PPG Industries, Inc. (NYSE:PPG)

HUB Investment Partners LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,305 shares of the specialty chemicals company’s stock, valued at approximately $395,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PUREfi Wealth LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $279,000. PFW Advisors LLC acquired a new position in PPG Industries in the fourth quarter valued at approximately $868,000. JGP Wealth Management LLC purchased a new stake in PPG Industries in the 4th quarter worth approximately $4,050,000. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, Avanza Fonder AB purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $2,944,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPG has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group reduced their target price 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. Finally, Royal Bank of Canada dropped their price target on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.15.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

PPG Industries Stock Down 0.5 %

PPG stock opened at $110.75 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average of $116.09 and a two-hundred day moving average of $121.78. PPG Industries, Inc. has a 12 month low of $109.15 and a 12 month high of $145.61. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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 return on equity of 23.78% and a net margin of 6.41%. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 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.