Wellington Management Group LLP Has $1.26 Billion Stock Position in PPG Industries, Inc. (NYSE:PPG)

Wellington Management Group LLP grew its stake in PPG Industries, Inc. (NYSE:PPG) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,567,051 shares of the specialty chemicals company’s stock after purchasing an additional 1,590,041 shares during the period. Wellington Management Group LLP owned approximately 4.66% of PPG Industries worth $1,262,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after acquiring an additional 354,740 shares in the last quarter. Townsquare Capital LLC increased its position in shares of PPG Industries by 12.7% during the 3rd quarter. Townsquare Capital LLC now owns 7,232 shares of the specialty chemicals company’s stock worth $958,000 after purchasing an additional 813 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in PPG Industries by 11.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,038 shares of the specialty chemicals company’s stock valued at $1,330,000 after purchasing an additional 1,000 shares during the last quarter. Morton Community Bank boosted its position in PPG Industries by 0.9% in the third quarter. Morton Community Bank now owns 21,483 shares of the specialty chemicals company’s stock valued at $2,846,000 after buying an additional 200 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its stake in PPG Industries by 83.7% during the third quarter. Point72 Hong Kong Ltd now owns 4,432 shares of the specialty chemicals company’s stock worth $587,000 after buying an additional 2,019 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

PPG stock opened at $107.32 on Monday. PPG Industries, Inc. has a twelve month low of $105.64 and a twelve month high of $145.61. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a market cap of $24.36 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The business’s fifty day moving average is $115.37 and its 200-day moving average is $121.17.

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

PPG Industries Announces Dividend

The company also recently disclosed 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group reduced their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $138.15.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.33% 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.