Strategic Global Advisors LLC Sells 9,532 Shares of PPG Industries, Inc. (NYSE:PPG)

Strategic Global Advisors LLC reduced its position in PPG Industries, Inc. (NYSE:PPGFree Report) by 40.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,131 shares of the specialty chemicals company’s stock after selling 9,532 shares during the period. Strategic Global Advisors LLC’s holdings in PPG Industries were worth $2,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPG. Norges Bank bought a new position in shares of PPG Industries in the fourth quarter worth approximately $554,685,000. Invesco Ltd. increased its position in shares of PPG Industries by 41.1% in the third quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after purchasing an additional 959,849 shares during the last quarter. Morgan Stanley increased its position in shares of PPG Industries by 12.4% in the third quarter. Morgan Stanley now owns 3,102,602 shares of the specialty chemicals company’s stock worth $402,718,000 after purchasing an additional 341,977 shares during the last quarter. Northern Trust Corp increased its position in shares of PPG Industries by 5.2% in the third quarter. Northern Trust Corp now owns 2,374,093 shares of the specialty chemicals company’s stock worth $308,157,000 after purchasing an additional 117,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PPG Industries by 37.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock worth $270,876,000 after purchasing an additional 496,998 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish acquired 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PPG has been the subject of several research reports. BMO Capital Markets cut their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. Barclays dropped their price objective on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Royal Bank of Canada dropped their price objective on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a research note on Monday, April 22nd. Finally, StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.47.

Get Our Latest Stock Analysis on PPG

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $0.18 during mid-day trading on Monday, reaching $128.59. 537,420 shares of the company traded hands, compared to its average volume of 1,688,251. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The firm has a market cap of $30.15 billion, a PE ratio of 21.69, a PEG ratio of 1.59 and a beta of 1.28. The company’s 50 day moving average price is $133.78 and its 200-day moving average price is $139.84.

PPG Industries (NYSE:PPGGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the firm earned $1.82 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy up to 8.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

PPG Industries Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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