Lindbrook Capital LLC Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Lindbrook Capital LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,012 shares of the specialty chemicals company’s stock after purchasing an additional 327 shares during the period. Lindbrook Capital LLC’s holdings in PPG Industries were worth $151,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Grandfield & Dodd LLC grew its position in shares of PPG Industries by 0.5% during the fourth quarter. Grandfield & Dodd LLC now owns 124,509 shares of the specialty chemicals company’s stock worth $18,620,000 after buying an additional 628 shares in the last quarter. abrdn plc boosted its holdings in PPG Industries by 26.4% in the fourth quarter. abrdn plc now owns 252,039 shares of the specialty chemicals company’s stock valued at $37,692,000 after purchasing an additional 52,635 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in PPG Industries by 6.7% in the fourth 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 in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in PPG Industries in the fourth quarter valued at approximately $33,000. Finally, Greenleaf Trust boosted its holdings in PPG Industries by 8.6% in the fourth quarter. Greenleaf Trust now owns 5,775 shares of the specialty chemicals company’s stock valued at $864,000 after purchasing an additional 455 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wolfe Research assumed coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft lowered their price target on PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $163.00 in a report on Thursday, April 11th. Citigroup lowered their price target on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, KeyCorp decreased their price objective on PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $155.50.

PPG Industries Price Performance

PPG Industries stock opened at $130.40 on Wednesday. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05. The business has a 50 day simple moving average of $140.00 and a 200-day simple moving average of $138.97. The stock has a market capitalization of $30.58 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS 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 prior year, the business earned $1.82 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts predict that PPG Industries, Inc. will post 8.47 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries declared that its board has initiated a stock buyback program on Thursday, April 18th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the transaction, the chief financial officer now owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.

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.