SVB Wealth LLC Makes New $4.71 Million Investment in PPG Industries, Inc. (NYSE:PPG)

SVB Wealth LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 39,425 shares of the specialty chemicals company’s stock, valued at approximately $4,709,000.

Several other hedge funds also recently modified their holdings of PPG. QRG Capital Management Inc. raised its position in PPG Industries by 3.9% in the fourth quarter. QRG Capital Management Inc. now owns 11,644 shares of the specialty chemicals company’s stock valued at $1,391,000 after purchasing an additional 437 shares during the last quarter. Proficio Capital Partners LLC bought a new position in PPG Industries in the 4th quarter valued at approximately $6,997,000. Mn Services Vermogensbeheer B.V. raised its holdings in PPG Industries by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 91,870 shares of the specialty chemicals company’s stock valued at $10,974,000 after buying an additional 1,500 shares during the last quarter. Equity Investment Corp grew its holdings in PPG Industries by 29.4% during the 4th quarter. Equity Investment Corp now owns 840,139 shares of the specialty chemicals company’s stock worth $100,355,000 after acquiring an additional 190,838 shares during the last quarter. Finally, Heritage Investors Management Corp acquired a new position in PPG Industries in the 4th quarter valued at approximately $251,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent research reports. Citigroup cut their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by insiders.

PPG Industries Stock Down 0.6 %

Shares of NYSE PPG opened at $112.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.64 billion, a PE ratio of 23.89, a P/E/G ratio of 2.19 and a beta of 1.23. The company’s fifty day simple moving average is $117.57 and its 200 day simple moving average is $123.07. PPG Industries, Inc. has a 12-month low of $110.20 and a 12-month high of $145.60.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.41%. PPG Industries’s dividend payout ratio is 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.