PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Altrinsic Global Advisors LLC

Altrinsic Global Advisors LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 0.6% during the fourth quarter, Holdings Channel reports. The firm owned 101,871 shares of the specialty chemicals company’s stock after purchasing an additional 628 shares during the period. PPG Industries makes up about 0.6% of Altrinsic Global Advisors LLC’s holdings, making the stock its 27th biggest holding. Altrinsic Global Advisors LLC’s holdings in PPG Industries were worth $12,168,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PPG. Legend Financial Advisors Inc. acquired a new position in PPG Industries in the fourth quarter valued at $27,000. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $36,000. Albion Financial Group UT acquired a new position in shares of PPG Industries in the 4th quarter valued at about $38,000. Crews Bank & Trust purchased a new stake in shares of PPG Industries during the 4th quarter worth about $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $44,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries 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 of the company’s stock, valued at $4,240,835.55. The trade was 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 available at the SEC website. 0.33% of the stock is owned by insiders.

PPG Industries Price Performance

Shares of PPG opened at $101.77 on Wednesday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock’s fifty day moving average is $108.74 and its 200-day moving average is $117.57. 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 $23.10 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its 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 net margin of 6.41% and a return on equity of 23.78%. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is currently 57.51%.

Analyst Ratings Changes

Several research analysts have commented on PPG shares. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Citigroup dropped 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. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $130.67.

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.