PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Horizon Investments LLC

Horizon Investments LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,313 shares of the specialty chemicals company’s stock after purchasing an additional 232 shares during the period. Horizon Investments LLC’s holdings in PPG Industries were worth $1,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RD Lewis Holdings Inc. purchased a new stake in shares of PPG Industries during the fourth quarter worth about $218,000. Flagship Wealth Advisors LLC purchased a new stake in PPG Industries during the 4th quarter worth approximately $48,000. Signaturefd LLC raised its position in shares of PPG Industries by 2.5% in the 4th quarter. Signaturefd LLC now owns 5,268 shares of the specialty chemicals company’s stock valued at $629,000 after purchasing an additional 128 shares in the last quarter. Cibc World Markets Corp raised its position in shares of PPG Industries by 296.8% in the 4th quarter. Cibc World Markets Corp now owns 125,745 shares of the specialty chemicals company’s stock valued at $15,020,000 after purchasing an additional 94,054 shares in the last quarter. Finally, Twin Tree Management LP grew its position in shares of PPG Industries by 131.4% during the fourth quarter. Twin Tree Management LP now owns 67,183 shares of the specialty chemicals company’s stock worth $8,025,000 after buying an additional 38,154 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

PPG Industries Stock Performance

PPG opened at $113.11 on Thursday. 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 firm has a market cap of $25.67 billion, a PE ratio of 23.91, a P/E/G ratio of 2.19 and a beta of 1.22. The business has a fifty day simple moving average of $116.23 and a 200-day simple moving average of $121.98. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61.

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 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%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.40%. PPG Industries’s dividend payout ratio is currently 57.51%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price 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. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $138.15.

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.