PPG Industries, Inc. (NYSE:PPG) Stock Position Increased by Equity Investment Corp

Equity Investment Corp increased its position in PPG Industries, Inc. (NYSE:PPG) by 29.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 840,139 shares of the specialty chemicals company’s stock after acquiring an additional 190,838 shares during the period. PPG Industries makes up about 2.4% of Equity Investment Corp’s investment portfolio, making the stock its 19th largest position. Equity Investment Corp’s holdings in PPG Industries were worth $100,355,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Alpha DNA Investment Management LLC raised its position in shares of PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after purchasing an additional 92 shares during the period. Mutual Advisors LLC raised its stake in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares in the last quarter. Groupama Asset Managment raised its position in PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after acquiring an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 95 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after buying an additional 103 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.6 %

PPG Industries stock opened at $115.07 on Thursday. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company’s 50 day simple moving average is $117.83 and its 200 day simple moving average is $123.15.

PPG Industries (NYSE:PPG) last released its quarterly earnings results 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 net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PPG shares. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Mizuho dropped their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Eight investment 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, the company currently has a consensus 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.