Y Intercept Hong Kong Ltd Takes $2.93 Million Position in PPG Industries, Inc. $PPG

Y Intercept Hong Kong Ltd purchased a new position in PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 27,913 shares of the specialty chemicals company’s stock, valued at approximately $2,934,000.

Several other large investors have also added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC raised its holdings in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in PPG Industries in the third quarter worth about $26,000. Root Financial Partners LLC bought a new position in PPG Industries in the third quarter worth about $30,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries during the 2nd quarter valued at approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,128,290. This trade represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research upgraded PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday. Mizuho dropped their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Bank of America decreased their price target on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Citigroup boosted their price objective on shares of PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.86.

PPG Industries Trading Down 0.1%

NYSE:PPG opened at $112.18 on Tuesday. The company’s 50 day moving average price is $103.68 and its 200-day moving average price is $105.50. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $124.66. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market cap of $25.17 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 3.32 and a beta of 1.17.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $2.13 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio is presently 64.40%.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.