67,150 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Weiss Asset Management LP

Weiss Asset Management LP bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) in the third quarter, Holdings Channel reports. The fund bought 67,150 shares of the specialty chemicals company’s stock, valued at approximately $7,433,000.

Several other institutional investors have also bought and sold shares of PPG. Guardian Wealth Advisors LLC bought a new stake in shares of PPG Industries in the third quarter valued at approximately $27,000. Parkside Financial Bank & Trust raised its holdings in PPG Industries by 45.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 87 shares during the period. New England Asset Management Inc. purchased a new stake in shares of PPG Industries during the second quarter worth $33,000. Achmea Investment Management B.V. bought a new position in shares of PPG Industries in the first quarter worth $40,000. Finally, CVA Family Office LLC grew its position in shares of PPG Industries by 312.5% in the third quarter. CVA Family Office LLC now owns 330 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $122.49 on Friday. The firm has a market cap of $28.83 billion, a P/E ratio of 28.29, a P/E/G ratio of 2.80 and a beta of 1.17. PPG Industries, Inc. has a fifty-two week low of $107.06 and a fifty-two week high of $138.10. The business’s 50 day moving average price is $129.68 and its 200-day moving average price is $124.82. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.04 and a current ratio of 1.52.

PPG Industries (NYSE:PPG – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 6.52 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 2.02%. PPG Industries’s dividend payout ratio is presently 57.27%.

Insider Activity at PPG Industries

In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of PPG Industries stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at $23,866,504.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of PPG Industries stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at $23,866,504.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Anne M. Foulkes sold 21,757 shares of the business’s stock in a transaction on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the transaction, the vice president now owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPG. Mizuho reissued a “buy” rating and set a $142.00 price objective on shares of PPG Industries in a report on Tuesday, February 7th. Wells Fargo & Company raised their price target on PPG Industries from $115.00 to $124.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. JPMorgan Chase & Co. raised their price target on PPG Industries from $116.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. Argus raised their price target on PPG Industries from $144.00 to $149.00 in a report on Monday, January 23rd. Finally, BNP Paribas cut PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 price target on the stock. in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $135.84.

About PPG Industries

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.