Sterling Capital Management LLC Has $1.64 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Sterling Capital Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 54.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,740 shares of the specialty chemicals company’s stock after buying an additional 4,829 shares during the period. Sterling Capital Management LLC’s holdings in PPG Industries were worth $1,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mutual Advisors LLC lifted its stake in shares of PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in PPG Industries by 28.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after buying an additional 95 shares during the period. Kingsview Wealth Management LLC lifted its stake in PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares during the period. Sachetta LLC boosted its holdings in shares of PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after buying an additional 105 shares in the last quarter. Finally, Savant Capital LLC increased its stake in shares of PPG Industries by 0.9% in the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock valued at $1,407,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $101.51 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a fifty day moving average price of $110.61 and a 200-day moving average price of $118.75. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 net margin of 6.41% and a return on equity of 23.78%. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.68%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their target price on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $134.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This 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 link. 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.