PPG Industries, Inc. (NYSE:PPG) Stake Boosted by Independent Advisor Alliance

Independent Advisor Alliance increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,226 shares of the specialty chemicals company’s stock after acquiring an additional 1,524 shares during the period. Independent Advisor Alliance’s holdings in PPG Industries were worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP increased its holdings in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares during the last quarter. Franklin Resources Inc. raised its position in PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after acquiring an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,648,379 shares of the specialty chemicals company’s stock valued at $316,349,000 after acquiring an additional 76,626 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PPG Industries by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock worth $248,650,000 after acquiring an additional 36,047 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related 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 completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PPG shares. UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada cut their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group decreased their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Hold” and a consensus target price of $138.15.

PPG Industries Trading Up 2.1 %

Shares of PPG stock opened at $113.65 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The firm’s fifty day simple moving average is $116.36 and its 200 day simple moving average is $122.33. The firm has a market capitalization of $25.79 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 return on equity of 23.78% and a net margin of 6.41%. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. PPG Industries’s dividend payout ratio 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.