Alpha DNA Investment Management LLC Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Alpha DNA Investment Management LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,344 shares of the specialty chemicals company’s stock after acquiring an additional 92 shares during the period. Alpha DNA Investment Management LLC’s holdings in PPG Industries were worth $1,105,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PPG. Charles Schwab Investment Management Inc. raised its holdings 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 last quarter. Dimensional Fund Advisors LP raised its stake in shares of PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares during the last quarter. Boston Partners boosted its position in shares of PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after buying an additional 80,710 shares in the last quarter. ProShare Advisors LLC grew its stake in PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after acquiring an additional 152,719 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in PPG Industries by 9.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock worth $162,862,000 after acquiring an additional 100,391 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity

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

PPG Industries Trading Down 0.0 %

Shares of PPG opened at $122.65 on Friday. The stock’s fifty day simple moving average is $127.00 and its 200 day simple moving average is $127.44. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $28.45 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered 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. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Royal Bank of Canada lowered their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

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.