Los Angeles Capital Management LLC Sells 6,653 Shares of PPG Industries, Inc. (NYSE:PPG)

Los Angeles Capital Management LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 28.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 16,386 shares of the specialty chemicals company’s stock after selling 6,653 shares during the period. Los Angeles Capital Management LLC’s holdings in PPG Industries were worth $2,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. J.W. Cole Advisors Inc. increased its stake in shares of PPG Industries by 6.7% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,004 shares of the specialty chemicals company’s stock valued at $1,646,000 after purchasing an additional 690 shares during the last quarter. FMR LLC boosted its holdings in shares of PPG Industries by 11.0% during the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock valued at $46,512,000 after acquiring an additional 35,571 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of PPG Industries by 49.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock valued at $4,239,000 after acquiring an additional 9,384 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of PPG Industries by 137.5% during the 4th quarter. Cerity Partners LLC now owns 34,937 shares of the specialty chemicals company’s stock valued at $5,224,000 after acquiring an additional 20,226 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its holdings in shares of PPG Industries by 2.3% during the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after acquiring an additional 192 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.1 %

Shares of NYSE:PPG opened at $128.54 on Friday. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.59 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. The business’s 50-day moving average is $131.56 and its 200-day moving average is $139.08. PPG Industries, Inc. has a 1 year low of $120.32 and a 1 year high of $152.89.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $4.43 billion. During the same period in the previous year, the company posted $1.82 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries announced that its Board of Directors has approved a share repurchase program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Royal Bank of Canada cut their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Seaport Res Ptn raised PPG Industries from a “neutral” rating to a “buy” rating in a report on Monday, April 22nd. Finally, Evercore ISI downgraded PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 target price on the stock. in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish bought 2,061 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average cost of $133.24 per share, with a total value of $274,607.64. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

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.