PPG Industries, Inc. (NYSE:PPG) Stake Lifted by Jmac Enterprises LLC

Jmac Enterprises LLC increased its position in PPG Industries, Inc. (NYSE:PPG) by 22.2% during the fourth quarter, Holdings Channel reports. The fund owned 4,400 shares of the specialty chemicals company’s stock after purchasing an additional 800 shares during the quarter. Jmac Enterprises LLC’s holdings in PPG Industries were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Insight Folios Inc lifted its holdings in shares of PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares in the last quarter. Alpha DNA Investment Management LLC grew its stake in PPG Industries by 1.1% during the 3rd 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 increased 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 valued at $319,000 after buying an additional 92 shares during the period. Groupama Asset Managment lifted its position 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. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $114.91 on Wednesday. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. The business has a 50 day moving average price of $119.80 and a 200 day moving average price of $123.73. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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%. Research analysts predict that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.37%. PPG Industries’s dividend payout ratio is 57.51%.

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.