PPG Industries, Inc. (NYSE:PPG) Holdings Decreased by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 81.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 707 shares of the specialty chemicals company’s stock after selling 3,079 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in PPG Industries were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PPG. Kestra Advisory Services LLC grew its holdings in shares of PPG Industries by 49.8% during the third quarter. Kestra Advisory Services LLC now owns 14,412 shares of the specialty chemicals company’s stock valued at $1,871,000 after buying an additional 4,792 shares in the last quarter. Rafferty Asset Management LLC grew its holdings in shares of PPG Industries by 28.5% during the third quarter. Rafferty Asset Management LLC now owns 20,227 shares of the specialty chemicals company’s stock valued at $2,625,000 after buying an additional 4,492 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of PPG Industries during the third quarter valued at $677,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of PPG Industries during the third quarter valued at $1,357,000. Finally, Envestnet Asset Management Inc. grew its stake in PPG Industries by 75.6% in the third quarter. Envestnet Asset Management Inc. now owns 342,195 shares of the specialty chemicals company’s stock valued at $44,417,000 after purchasing an additional 147,291 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE PPG opened at $127.86 on Thursday. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. The stock has a market capitalization of $29.98 billion, a PE ratio of 21.60, a P/E/G ratio of 1.59 and a beta of 1.28. The stock has a 50-day simple moving average of $131.86 and a 200 day simple moving average of $139.25.

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

PPG Industries Dividend Announcement

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

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

Analysts Set New Price Targets

A number of research analysts have commented on PPG shares. BMO Capital Markets lowered their target price on PPG Industries from $168.00 to $165.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 23rd. KeyCorp lowered their target price on PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, April 22nd. Barclays lowered their target price on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Monday, April 22nd. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, Royal Bank of Canada lowered their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $155.47.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish purchased 2,061 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average price of $133.24 per share, with a total value of $274,607.64. Following the acquisition, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,774,388.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 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.