Covestor Ltd Acquires 215 Shares of PPG Industries, Inc. (NYSE:PPG)

Covestor Ltd boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,017 shares of the specialty chemicals company’s stock after buying an additional 215 shares during the quarter. Covestor Ltd’s holdings in PPG Industries were worth $122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Barclays PLC boosted its holdings in PPG Industries by 21.0% in the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock worth $151,276,000 after buying an additional 198,353 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of PPG Industries by 69.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock worth $7,153,000 after purchasing an additional 22,198 shares during the last quarter. Tidal Investments LLC raised its stake in PPG Industries by 1.2% in the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock valued at $1,763,000 after purchasing an additional 162 shares in the last quarter. Franklin Resources Inc. lifted its position in PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after purchasing an additional 170,339 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock worth $731,000 after buying an additional 498 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Citigroup cut their target price on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries has a consensus rating of “Hold” and an average price target of $134.15.

PPG Industries Stock Performance

PPG Industries stock opened at $100.75 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 market cap of $22.87 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The firm has a 50-day moving average of $110.83 and a 200-day moving average of $119.09.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Friday, February 21st. PPG Industries’s 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.