Wahed Invest LLC Boosts Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Wahed Invest LLC raised its position in PPG Industries, Inc. (NYSE:PPG) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,024 shares of the specialty chemicals company’s stock after buying an additional 351 shares during the quarter. Wahed Invest LLC’s holdings in PPG Industries were worth $720,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on PPG. JPMorgan Chase & Co. reduced their price target on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday. Mizuho lowered their price target 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. Royal Bank of Canada boosted 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 note on Friday. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $128.83.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

PPG Industries Trading Up 1.5 %

Shares of PPG stock opened at $110.45 on Friday. 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 firm has a market cap of $25.07 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The business has a 50-day moving average price of $106.97 and a two-hundred day moving average price of $116.39. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.46%. PPG Industries’s payout ratio is 57.51%.

About PPG Industries

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.