DRW Securities LLC Buys Shares of 1,812 PPG Industries, Inc. (NYSE:PPG)

DRW Securities LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,812 shares of the specialty chemicals company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in PPG Industries during the 4th quarter worth approximately $470,535,000. First Eagle Investment Management LLC raised its holdings in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after acquiring an additional 1,858,895 shares during the period. Wellington Management Group LLP lifted its position in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares in the last quarter. Cooke & Bieler LP acquired a new position in PPG Industries in the 4th quarter worth $107,850,000. Finally, Vanguard Group Inc. increased its holdings in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Citigroup reduced their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price objective on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $134.15.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’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 $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $100.75 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock’s 50 day moving average price is $110.83 and its two-hundred day moving average price is $119.09. The firm has a market capitalization of $22.87 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.70%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

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.