3,663 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,663 shares of the specialty chemicals company’s stock, valued at approximately $438,000.

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

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’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 value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Up 1.5 %

PPG stock opened at $110.45 on Friday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company’s 50 day moving average price is $106.97 and its 200 day moving average price is $116.29. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $1.87 EPS. On average, equities research analysts anticipate 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 will be paid on Thursday, June 12th. Stockholders 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 dividend yield of 2.46%. PPG Industries’s dividend payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PPG shares. Fermium Researc raised shares of PPG Industries to a “strong-buy” rating in a research note on Thursday. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. UBS Group lifted their target price on shares of PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup decreased their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group dropped their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.83.

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.