Enhancing Capital LLC Buys New Holdings in PPG Industries, Inc. (NYSE:PPG)

Enhancing Capital LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,000 shares of the specialty chemicals company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. OneDigital Investment Advisors LLC raised its stake in PPG Industries by 13.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,895 shares of the specialty chemicals company’s stock valued at $781,000 after purchasing an additional 677 shares during the period. Empowered Funds LLC increased its stake in PPG Industries by 4.4% in the 3rd quarter. Empowered Funds LLC now owns 20,541 shares of the specialty chemicals company’s stock worth $2,721,000 after acquiring an additional 868 shares during the last quarter. Natixis Advisors LLC increased its stake in PPG Industries by 57.8% in the 3rd quarter. Natixis Advisors LLC now owns 137,372 shares of the specialty chemicals company’s stock worth $18,196,000 after acquiring an additional 50,326 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in PPG Industries by 9.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 26,493 shares of the specialty chemicals company’s stock worth $3,509,000 after acquiring an additional 2,202 shares during the last quarter. Finally, MAI Capital Management increased its stake in PPG Industries by 88.7% in the 3rd quarter. MAI Capital Management now owns 6,319 shares of the specialty chemicals company’s stock worth $837,000 after acquiring an additional 2,970 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Insiders Place Their Bets

In other PPG Industries 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have 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. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and cut their target price for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $138.15.

PPG Industries Price Performance

PPG opened at $113.51 on Wednesday. The business has a fifty day moving average of $116.28 and a 200 day moving average of $122.04. PPG Industries, Inc. has a 52-week low of $109.15 and a 52-week high of $145.61. 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 stock has a market cap of $25.76 billion, a P/E ratio of 24.00, a PEG 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 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, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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