GSA Capital Partners LLP Purchases 1,568 Shares of PPG Industries, Inc. (NYSE:PPG)

GSA Capital Partners LLP raised its position in PPG Industries, Inc. (NYSE:PPG) by 41.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,309 shares of the specialty chemicals company’s stock after buying an additional 1,568 shares during the quarter. GSA Capital Partners LLP’s holdings in PPG Industries were worth $703,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Connections Group Inc. purchased a new stake in PPG Industries in the 2nd quarter worth about $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC bought a new stake in shares of PPG Industries in the second quarter valued at approximately $37,000. Hara Capital LLC bought a new stake in shares of PPG Industries in the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of PPG Industries during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Citigroup dropped their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Mizuho reduced their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Bank of America lowered their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

PPG Industries Trading Down 0.8 %

NYSE PPG opened at $122.53 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $127.37 and its two-hundred day simple moving average is $127.78. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the firm earned $2.07 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

PPG Industries 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.