XTX Topco Ltd Acquires New Shares in PPG Industries, Inc. (NYSE:PPG)

XTX Topco Ltd bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, Holdings Channel.com reports. The firm bought 20,862 shares of the specialty chemicals company’s stock, valued at approximately $2,492,000.

Several other large investors have also modified their holdings of the business. PUREfi Wealth LLC purchased a new stake in PPG Industries in the 4th quarter valued at about $279,000. PFW Advisors LLC acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $868,000. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries in the 4th quarter valued at approximately $4,050,000. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after acquiring an additional 756,937 shares during the last quarter. Finally, Avanza Fonder AB purchased a new position in shares of PPG Industries during the 4th quarter worth approximately $2,944,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company’s stock.

PPG Industries Stock Up 2.3 %

PPG opened at $100.75 on Monday. The business has a 50 day moving average price of $110.83 and a two-hundred day moving average price of $118.98. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a market cap of $22.87 billion, a PE ratio of 21.30, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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%. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Mizuho reduced their price objective 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. Finally, UBS Group cut their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $134.15.

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.