PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in PPG Industries, Inc. (NYSE:PPG) by 3.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,648,379 shares of the specialty chemicals company’s stock after purchasing an additional 76,626 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in PPG Industries were worth $316,349,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Legend Financial Advisors Inc. purchased a new stake in PPG Industries during the 4th quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its stake in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter valued at approximately $34,000. Albion Financial Group UT purchased a new position in PPG Industries in the fourth quarter worth approximately $38,000. Finally, Hara Capital LLC acquired a new position in PPG Industries during the 3rd quarter worth approximately $40,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group dropped their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of 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 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 company currently has an average rating of “Moderate Buy” and an average price target of $138.15.

Insider Activity

In other PPG Industries 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 transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $114.18 on Thursday. PPG Industries, Inc. has a one year low of $109.15 and a one year high of $145.61. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.19 and a beta of 1.22. The company has a 50-day simple moving average of $117.04 and a 200-day simple moving average of $122.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last released its 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, analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.38%. PPG Industries’s dividend payout ratio is presently 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.