Quantamental Technologies LLC Takes $45,000 Position in PPG Industries, Inc. (PPG)
Quantamental Technologies LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 442 shares of the specialty chemicals company’s stock, valued at approximately $45,000.
Several other institutional investors have also bought and sold shares of PPG. Capital International Investors bought a new position in shares of PPG Industries in the 3rd quarter worth about $196,434,000. Massachusetts Financial Services Co. MA lifted its position in shares of PPG Industries by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,500,737 shares of the specialty chemicals company’s stock worth $2,564,635,000 after buying an additional 1,387,824 shares during the last quarter. Morgan Stanley lifted its position in shares of PPG Industries by 43.6% in the 3rd quarter. Morgan Stanley now owns 1,239,867 shares of the specialty chemicals company’s stock worth $135,306,000 after buying an additional 376,348 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PPG Industries by 42.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 989,429 shares of the specialty chemicals company’s stock worth $107,975,000 after buying an additional 294,392 shares during the last quarter. Finally, Luminus Management LLC bought a new position in shares of PPG Industries in the 3rd quarter worth about $24,848,000. Institutional investors own 79.42% of the company’s stock.
A number of research analysts have recently issued reports on PPG shares. Argus upgraded shares of PPG Industries to a “buy” rating and set a $136.00 price target on the stock in a research report on Thursday, December 20th. Citigroup upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price target on the stock in a research report on Thursday, November 29th. Deutsche Bank raised their price target on shares of PPG Industries from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, November 1st. Goldman Sachs Group upgraded shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a research report on Monday, October 29th. Finally, BMO Capital Markets cut their price objective on shares of PPG Industries from $116.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $117.25.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. The business had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.65 billion. PPG Industries had a net margin of 8.84% and a return on equity of 27.86%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $1.19 earnings per share. As a group, research analysts forecast that PPG Industries, Inc. will post 6.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 22nd will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 32.43%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
Featured Story: Net Margin
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG).
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.