Ellevest Inc. Invests $427,000 in PPG Industries, Inc. (NYSE:PPG)

Ellevest Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,572 shares of the specialty chemicals company’s stock, valued at approximately $427,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in PPG Industries during the 4th quarter worth $470,535,000. Kovitz Investment Group Partners LLC lifted its holdings in PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock worth $518,132,000 after purchasing an additional 3,592,655 shares during the period. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 815.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock valued at $362,074,000 after buying an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after buying an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average target price of $128.83.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on 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 sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

PPG Industries Trading Up 0.7 %

NYSE PPG opened at $109.32 on Friday. The firm’s 50 day moving average price is $106.58 and its two-hundred day moving average price is $115.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.19 and a beta of 1.20.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. PPG Industries’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, May 12th. PPG Industries’s dividend payout ratio is currently 58.24%.

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.