Vinva Investment Management Ltd Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Vinva Investment Management Ltd lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 35.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,938 shares of the specialty chemicals company’s stock after selling 2,763 shares during the period. Vinva Investment Management Ltd’s holdings in PPG Industries were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Alpha DNA Investment Management LLC grew its stake in PPG Industries by 1.1% during 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 acquiring an additional 92 shares in the last quarter. Mutual Advisors LLC grew its stake in PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares in the last quarter. Groupama Asset Managment grew its stake in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after buying an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in 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 worth $51,000 after buying an additional 95 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its stake 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 worth $990,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated 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 directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Trading Down 0.5 %

Shares of PPG opened at $110.75 on Friday. The stock has a market capitalization of $25.14 billion, a P/E ratio of 23.42, a PEG ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $116.09 and a two-hundred day simple moving average of $121.78. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries’s payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PPG shares. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. The Goldman Sachs Group cut their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.