Twin Tree Management LP Buys 38,154 Shares of PPG Industries, Inc. (NYSE:PPG)

Twin Tree Management LP boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 131.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,183 shares of the specialty chemicals company’s stock after buying an additional 38,154 shares during the period. Twin Tree Management LP’s holdings in PPG Industries were worth $8,025,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. PUREfi Wealth LLC bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $279,000. PFW Advisors LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $868,000. Equity Investment Corp grew its position in shares of PPG Industries by 7.0% in the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after buying an additional 42,380 shares during the period. JGP Wealth Management LLC bought a new position in shares of PPG Industries in the 4th quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its position in PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after acquiring an additional 15,161 shares during the period. 81.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PPG shares. Wells Fargo & Company cut their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup cut their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Stock Up 0.3 %

Shares of PPG Industries stock opened at $113.85 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $109.15 and a twelve month high of $145.61. The company has a market cap of $25.84 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The company’s 50 day moving average is $116.33 and its 200 day moving average is $122.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 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.