Vinva Investment Management Ltd Purchases 361 Shares of PPG Industries, Inc. (NYSE:PPG)

Vinva Investment Management Ltd raised its stake in PPG Industries, Inc. (NYSE:PPG) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,701 shares of the specialty chemicals company’s stock after acquiring an additional 361 shares during the quarter. Vinva Investment Management Ltd’s holdings in PPG Industries were worth $1,036,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Financial Connections Group Inc. bought a new position in PPG Industries in the 2nd quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter valued at about $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the 2nd quarter valued at about $37,000. Hara Capital LLC bought a new position in PPG Industries in the 3rd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC bought a new position in PPG Industries in the 3rd quarter valued at about $46,000. 81.86% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PPG shares. Royal Bank of Canada lowered their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $124.43 on Friday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a market capitalization of $28.87 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.89 and a beta of 1.26. The company’s 50 day moving average price is $126.65 and its two-hundred day moving average price is $127.12.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $2.07 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

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.