Robeco Institutional Asset Management B.V. Decreases Stake in PPG Industries, Inc. (NYSE:PPG)

Robeco Institutional Asset Management B.V. reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 38.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,806 shares of the specialty chemicals company’s stock after selling 97,655 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PPG Industries were worth $249,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PPG. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries in the 4th quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of PPG Industries during the fourth quarter valued at $27,000. SJS Investment Consulting Inc. lifted its stake in PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 153 shares during the period. CVA Family Office LLC bought a new position in shares of PPG Industries during the fourth quarter worth about $28,000. Finally, DiNuzzo Private Wealth Inc. bought a new position in PPG Industries in the fourth quarter valued at approximately $29,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the acquisition, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,774,388.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy M. Knavish acquired 2,061 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,774,388.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $131.42 on Friday. The stock has a market capitalization of $30.82 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.63 and a beta of 1.30. 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’s 50 day simple moving average is $136.22 and its 200-day simple moving average is $139.88. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $1.82 EPS. Analysts expect that PPG Industries, Inc. will post 8.44 EPS for the current year.

PPG Industries declared that its Board of Directors has initiated a share repurchase program on Thursday, April 18th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.98%. PPG Industries’s dividend payout ratio is currently 43.92%.

Analyst Upgrades and Downgrades

PPG has been the subject of several research reports. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets cut their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a report on Tuesday, April 23rd. Wolfe Research initiated coverage on PPG Industries in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Redburn Atlantic lowered 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.47.

PPG Industries Company Profile

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.