Threadgill Financial LLC Cuts Position in PPG Industries, Inc. (NYSE:PPG)

Threadgill Financial LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 1.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,764 shares of the specialty chemicals company’s stock after selling 434 shares during the quarter. PPG Industries comprises approximately 1.6% of Threadgill Financial LLC’s holdings, making the stock its 16th largest holding. Threadgill Financial LLC’s holdings in PPG Industries were worth $3,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Norges Bank acquired a new position in shares of PPG Industries during the fourth quarter worth about $554,685,000. Vanguard Group Inc. boosted its holdings in PPG Industries by 17.2% in the 4th quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company’s stock worth $3,661,083,000 after acquiring an additional 3,600,558 shares during the period. Assenagon Asset Management S.A. grew its position in PPG Industries by 4,484.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 723,690 shares of the specialty chemicals company’s stock valued at $108,228,000 after acquiring an additional 707,903 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $74,492,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PPG Industries by 37.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock worth $270,876,000 after purchasing an additional 496,998 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PPG shares. Royal Bank of Canada lowered their price target on shares of PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Bank of America lowered their price objective on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Wolfe Research began coverage on PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.47.

Read Our Latest Stock Report on PPG Industries

PPG Industries Stock Performance

PPG stock traded up $0.08 during trading on Friday, hitting $128.54. 1,971,814 shares of the company’s stock traded hands, compared to its average volume of 1,666,961. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 21.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.28. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The stock has a fifty day moving average price of $131.56 and a two-hundred day moving average price of $139.08. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPGGet Free Report) last announced its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries declared that its Board of Directors has initiated a stock buyback program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

PPG Industries Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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