3,830 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, Holdings Channel reports. The fund bought 3,830 shares of the specialty chemicals company’s stock, valued at approximately $458,000.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares during the period. Wellington Management Group LLP raised its stake in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the period. Franklin Resources Inc. raised its stake 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 worth $403,049,000 after purchasing an additional 170,339 shares during the period. Charles Schwab Investment Management Inc. raised its stake in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PPG Industries by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after acquiring an additional 36,047 shares during the period. 81.86% of the stock is 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 firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.56% of the stock is owned by corporate insiders.

PPG Industries Stock Up 0.7 %

Shares of PPG Industries stock opened at $114.29 on Wednesday. The company has a market cap of $25.94 billion, a P/E ratio of 24.16, a PEG ratio of 2.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The firm has a fifty day moving average of $117.96 and a two-hundred day moving average of $123.21.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. PPG Industries’s payout ratio is 57.51%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PPG shares. The Goldman Sachs Group reduced 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. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned 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 $138.15.

PPG Industries Company 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.