Concurrent Investment Advisors LLC Acquires 320 Shares of PPG Industries, Inc. (NYSE:PPG)

Concurrent Investment Advisors LLC boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,165 shares of the specialty chemicals company’s stock after purchasing an additional 320 shares during the period. Concurrent Investment Advisors LLC’s holdings in PPG Industries were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Insight Folios Inc grew its position in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in shares of PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after acquiring an additional 92 shares during the period. Mutual Advisors LLC grew its position in shares of PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after acquiring an additional 92 shares during the period. Groupama Asset Managment grew its position in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after acquiring an additional 93 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 95 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PPG shares. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada cut their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. Mizuho cut their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $114.88 on Monday. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. 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 company has a 50-day simple moving average of $118.29 and a two-hundred day simple moving average of $123.28. The stock has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were 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. The trade was 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. Corporate insiders own 0.55% of the company’s stock.

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.