Virtu Financial LLC Makes New Investment in PPG Industries, Inc. (NYSE:PPG)

Virtu Financial LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,793 shares of the specialty chemicals company’s stock, valued at approximately $567,000.

Several other hedge funds have also recently bought and sold shares of PPG. TKG Advisors LLC bought a new position in shares of PPG Industries during the fourth quarter worth approximately $211,000. V Square Quantitative Management LLC increased its holdings in shares of PPG Industries by 31.0% during the fourth quarter. V Square Quantitative Management LLC now owns 4,405 shares of the specialty chemicals company’s stock worth $659,000 after purchasing an additional 1,043 shares during the period. Voisard Asset Management Group Inc. bought a new position in shares of PPG Industries during the fourth quarter worth approximately $45,000. Taylor Financial Group Inc. bought a new position in shares of PPG Industries during the fourth quarter worth approximately $1,380,000. Finally, Bragg Financial Advisors Inc increased its holdings in shares of PPG Industries by 2.6% during the fourth quarter. Bragg Financial Advisors Inc now owns 34,431 shares of the specialty chemicals company’s stock worth $5,149,000 after purchasing an additional 882 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish bought 2,061 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the acquisition, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Wolfe Research started coverage on shares of PPG Industries in a research note on Friday, March 1st. They issued a “peer perform” rating on the stock. StockNews.com raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Citigroup decreased their price objective on shares of PPG Industries from $170.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Finally, UBS Group decreased their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.47.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $128.27 on Tuesday. The firm has a market cap of $30.08 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The firm’s fifty day moving average is $132.34 and its 200-day moving average is $139.44. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 earnings per share. Sell-side analysts predict that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries declared that its board has initiated a stock repurchase plan on Thursday, April 18th that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th were issued a dividend of $0.65 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.03%. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

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.