Grantham Mayo Van Otterloo & Co. LLC Has $4.05 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Grantham Mayo Van Otterloo & Co. LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 676.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 33,919 shares of the specialty chemicals company’s stock after purchasing an additional 29,551 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in PPG Industries were worth $4,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter worth approximately $27,000. Prudent Man Investment Management Inc. bought a new position in PPG Industries during the fourth quarter worth $36,000. Albion Financial Group UT acquired a new position in PPG Industries in the fourth quarter valued at $38,000. Crews Bank & Trust bought a new stake in PPG Industries during the fourth quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter worth about $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPG. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group dropped 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. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Finally, Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.77.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Down 2.3 %

Shares of NYSE PPG opened at $96.88 on Tuesday. 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 $95.01 and a 1 year high of $142.30. The stock has a market capitalization of $21.99 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.19 and a beta of 1.16. The company has a 50-day moving average price of $113.20 and a 200-day moving average price of $120.21.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal 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 given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

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.