Bridges Investment Management Inc. Increases Stake in PPG Industries, Inc. (NYSE:PPG)

Bridges Investment Management Inc. raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 107.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,502 shares of the specialty chemicals company’s stock after acquiring an additional 6,982 shares during the quarter. Bridges Investment Management Inc.’s holdings in PPG Industries were worth $1,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PPG. Metis Global Partners LLC raised its holdings in PPG Industries by 8.7% in the 4th quarter. Metis Global Partners LLC now owns 14,556 shares of the specialty chemicals company’s stock worth $1,739,000 after purchasing an additional 1,160 shares during the period. SVB Wealth LLC purchased a new stake in PPG Industries in the fourth quarter worth about $4,709,000. QRG Capital Management Inc. raised its stake in shares of PPG Industries by 3.9% in the fourth quarter. QRG Capital Management Inc. now owns 11,644 shares of the specialty chemicals company’s stock worth $1,391,000 after buying an additional 437 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at about $6,997,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in shares of PPG Industries by 1.7% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 91,870 shares of the specialty chemicals company’s stock valued at $10,974,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were 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 owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is owned by insiders.

PPG Industries Trading Down 0.6 %

Shares of PPG Industries stock opened at $112.99 on Monday. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60. 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 business has a 50-day moving average price of $117.57 and a 200-day moving average price of $123.10. The firm has a market cap of $25.64 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share 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%. 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 declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho decreased their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries 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.