Bessemer Group Inc. Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Bessemer Group Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,078 shares of the specialty chemicals company’s stock after purchasing an additional 216 shares during the quarter. Bessemer Group Inc.’s holdings in PPG Industries were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PPG. Mutual Advisors LLC grew its stake in shares of PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after acquiring an additional 92 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in PPG Industries by 1.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock worth $990,000 after purchasing an additional 103 shares during the period. Sachetta LLC raised its position in PPG Industries by 18.4% in the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock valued at $81,000 after purchasing an additional 105 shares in the last quarter. Finally, Savant Capital LLC grew its position in shares of PPG Industries by 0.9% during the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after buying an additional 107 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PPG. Citigroup reduced their target price on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Bank of America reaffirmed a “neutral” rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. UBS Group decreased their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of “Hold” and an average price target of $132.31.

PPG Industries Stock Down 1.1 %

PPG stock opened at $98.48 on Thursday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $22.35 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The company has a fifty day moving average price of $109.95 and a 200 day moving average price of $118.48.

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

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction 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 $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

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.