13,122 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by GAM Holding AG

GAM Holding AG bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,122 shares of the specialty chemicals company’s stock, valued at approximately $1,567,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PPG. Exchange Traded Concepts LLC grew its stake in shares of PPG Industries by 156.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock valued at $154,000 after purchasing an additional 707 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of PPG Industries by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock valued at $454,000 after purchasing an additional 227 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of PPG Industries by 6.7% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,970 shares of the specialty chemicals company’s stock valued at $393,000 after purchasing an additional 187 shares during the last quarter. Blue Trust Inc. grew its stake in shares of PPG Industries by 46.3% in the 3rd quarter. Blue Trust Inc. now owns 3,633 shares of the specialty chemicals company’s stock valued at $457,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after purchasing an additional 2,047 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $119.26 on Wednesday. The stock has a fifty day moving average price of $118.72 and a 200 day moving average price of $123.33. The stock has a market cap of $27.67 billion, a PE ratio of 25.21, a P/E/G ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. 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 (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts forecast that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

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 dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PPG shares. Mizuho lowered their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Wells Fargo & Company reduced their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.15.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, 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 this link. 0.55% of the stock is currently owned by company insiders.

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.