PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,064 shares of the specialty chemicals company’s stock after acquiring an additional 263 shares during the quarter. Van ECK Associates Corp’s holdings in PPG Industries were worth $4,785,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PPG. Exchange Traded Concepts LLC increased its position in PPG Industries by 156.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock valued at $154,000 after acquiring an additional 707 shares during the period. Vontobel Holding Ltd. increased its position in PPG Industries by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock valued at $454,000 after acquiring an additional 227 shares during the period. Stratos Wealth Advisors LLC increased its position in PPG Industries by 6.7% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,970 shares of the specialty chemicals company’s stock valued at $393,000 after acquiring an additional 187 shares during the period. Blue Trust Inc. increased its position in PPG Industries by 46.3% in the 3rd quarter. Blue Trust Inc. now owns 3,633 shares of the specialty chemicals company’s stock valued at $457,000 after acquiring an additional 1,149 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in PPG Industries by 15.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after acquiring an additional 2,047 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $119.26 on Wednesday. The stock has a market cap of $27.67 billion, a PE ratio of 25.21, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The business has a fifty day simple moving average of $118.84 and a 200-day simple moving average of $123.36. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60.

PPG Industries (NYSE:PPG) last released 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%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.96 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.28%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analyst Weigh In

PPG has been the topic of several research analyst reports. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Citigroup lowered their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, Barclays reduced their price objective on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $138.15.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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.