PPG Industries, Inc. (NYSE:PPG) Stock Holdings Increased by Horizon Investments LLC

Horizon Investments LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,313 shares of the specialty chemicals company’s stock after purchasing an additional 232 shares during the period. Horizon Investments LLC’s holdings in PPG Industries were worth $1,232,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 4th quarter valued at $27,000. Pin Oak Investment Advisors Inc. grew its stake in PPG Industries by 465.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT purchased a new position in PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust acquired a new position in PPG Industries in the 4th quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group dropped their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Mizuho reduced their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Trading Down 0.4 %

PPG Industries stock opened at $113.11 on Thursday. PPG Industries, Inc. has a 52 week low of $109.15 and a 52 week high of $145.61. 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 $25.67 billion, a PE ratio of 23.91, a PEG ratio of 2.19 and a beta of 1.22. The business’s 50-day simple moving average is $116.23 and its 200-day simple moving average is $121.98.

PPG Industries (NYSE:PPG) last issued its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated 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. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

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.