PPG Industries, Inc. (NYSE:PPG) Shares Purchased by First Hawaiian Bank

First Hawaiian Bank raised its position in PPG Industries, Inc. (NYSE:PPGFree Report) by 97.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,086 shares of the specialty chemicals company’s stock after purchasing an additional 4,988 shares during the quarter. First Hawaiian Bank’s holdings in PPG Industries were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PPG. Moneta Group Investment Advisors LLC increased its stake in shares of PPG Industries by 163,082.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock valued at $522,813,000 after purchasing an additional 4,155,341 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of PPG Industries by 602,706.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock valued at $331,994,000 after purchasing an additional 2,639,853 shares during the period. Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $318,155,000. First Trust Advisors LP increased its stake in shares of PPG Industries by 280.6% in the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after purchasing an additional 1,279,104 shares during the period. Finally, Invesco Ltd. increased its stake 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 valued at $427,580,000 after purchasing an additional 959,849 shares during the period. Institutional investors and hedge funds own 79.18% of the company’s stock.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.8 %

Shares of NYSE:PPG opened at $137.86 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The company has a market cap of $32.45 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The firm has a 50 day simple moving average of $141.83 and a 200 day simple moving average of $137.92.

PPG Industries (NYSE:PPGGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th were given a $0.65 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a yield of 1.89%. PPG Industries’s payout ratio is 48.69%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PPG shares. Redburn Atlantic cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Wolfe Research started coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price objective on shares of PPG Industries from $140.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating for the company in a report on Monday, January 22nd. Finally, Barclays cut shares of PPG Industries from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $157.13.

View Our Latest Stock Analysis on PPG

PPG Industries 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.

See Also

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

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