Sei Investments Co. Purchases 79,117 Shares of PPG Industries, Inc. (NYSE:PPG)

Sei Investments Co. increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 130.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 139,985 shares of the specialty chemicals company’s stock after buying an additional 79,117 shares during the quarter. Sei Investments Co. owned 0.06% of PPG Industries worth $16,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth about $27,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT acquired a new stake in PPG Industries during the 4th quarter worth approximately $38,000. Crews Bank & Trust bought a new position in PPG Industries in the fourth quarter valued at approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $44,000. 81.86% of the stock is currently owned by institutional investors.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on PPG shares. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. The Goldman Sachs Group dropped their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Mizuho lowered their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $138.15.

PPG Industries Trading Down 3.2 %

PPG stock opened at $108.36 on Friday. PPG Industries, Inc. has a one year low of $105.64 and a one year high of $145.61. The stock has a market cap of $24.60 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company has a fifty day moving average price of $115.63 and a two-hundred day moving average price of $121.36. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.51%. PPG Industries’s payout ratio is currently 57.51%.

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.