QRG Capital Management Inc. Purchases 437 Shares of PPG Industries, Inc. (NYSE:PPG)

QRG Capital Management Inc. lifted its position in PPG Industries, Inc. (NYSE:PPG) by 3.9% in the 4th quarter, Holdings Channel reports. The fund owned 11,644 shares of the specialty chemicals company’s stock after acquiring an additional 437 shares during the quarter. QRG Capital Management Inc.’s holdings in PPG Industries were worth $1,391,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PPG. Pinnacle Associates Ltd. raised its position in shares of PPG Industries by 15.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,224 shares of the specialty chemicals company’s stock worth $295,000 after acquiring an additional 293 shares in the last quarter. Stephens Inc. AR grew its stake in shares of PPG Industries by 3.7% in the 3rd quarter. Stephens Inc. AR now owns 11,534 shares of the specialty chemicals company’s stock worth $1,528,000 after buying an additional 409 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of PPG Industries by 3.2% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 5,022 shares of the specialty chemicals company’s stock worth $665,000 after buying an additional 157 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of PPG Industries by 14.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,445 shares of the specialty chemicals company’s stock worth $324,000 after buying an additional 306 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. grew its stake in shares of PPG Industries by 17.9% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 20,633 shares of the specialty chemicals company’s stock worth $2,733,000 after buying an additional 3,139 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PPG shares. Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Price Performance

NYSE PPG opened at $112.99 on Monday. The business’s fifty day moving average price is $117.57 and its 200-day moving average price is $123.10. The stock has a market capitalization of $25.64 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.19 and a beta of 1.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1-year low of $110.20 and a 1-year high of $145.60.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.41%. PPG Industries’s payout ratio is 57.51%.

About PPG Industries

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.