Mizuho Securities USA LLC Increases Holdings in PPG Industries, Inc. (NYSE:PPG)

Mizuho Securities USA LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 45.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,988 shares of the specialty chemicals company’s stock after buying an additional 6,860 shares during the period. Mizuho Securities USA LLC’s holdings in PPG Industries were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPG. PUREfi Wealth LLC purchased a new stake in shares of PPG Industries in the 4th quarter valued at $279,000. PFW Advisors LLC purchased a new stake in PPG Industries in the fourth quarter valued at $868,000. JGP Wealth Management LLC purchased a new stake in PPG Industries in the fourth quarter valued at $4,050,000. Avanza Fonder AB purchased a new position in shares of PPG Industries during the 4th quarter valued at about $2,944,000. Finally, Quadrature Capital Ltd acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $617,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of several analyst reports. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $138.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were 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 owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Trading Up 2.1 %

Shares of PPG Industries stock opened at $113.07 on Tuesday. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The firm’s 50-day moving average price is $116.06 and its 200 day moving average price is $121.61. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $25.66 billion, a PE ratio of 23.90, a P/E/G ratio of 2.19 and a beta of 1.22.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is 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.