Stonebridge Financial Group LLC Invests $158,000 in PPG Industries, Inc. (NYSE:PPG)

Stonebridge Financial Group LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,320 shares of the specialty chemicals company’s stock, valued at approximately $158,000.

Other large investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP lifted its holdings in PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. FMR LLC boosted its position in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after buying an additional 354,740 shares in the last quarter. International Assets Investment Management LLC grew its stake in PPG Industries by 189.6% during the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of PPG Industries by 65.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after buying an additional 206,853 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $115.00 in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Barclays lowered their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Mizuho decreased 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. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Trading Down 0.1 %

PPG opened at $114.77 on Thursday. The firm has a 50 day simple moving average of $119.57 and a 200 day simple moving average of $123.64. PPG Industries, Inc. has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a market cap of $26.63 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. 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 issued 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 net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 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.