PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,098 shares of the specialty chemicals company’s stock after purchasing an additional 434 shares during the quarter. Summit Trail Advisors LLC’s holdings in PPG Industries were worth $314,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Invesco Ltd. raised its holdings in PPG Industries by 41.1% in the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock valued at $427,580,000 after acquiring an additional 959,849 shares during the last quarter. Morgan Stanley increased its holdings in shares of PPG Industries by 12.4% in the third quarter. Morgan Stanley now owns 3,102,602 shares of the specialty chemicals company’s stock valued at $402,718,000 after purchasing an additional 341,977 shares during the last quarter. Northern Trust Corp lifted its position in PPG Industries by 5.2% during the third quarter. Northern Trust Corp now owns 2,374,093 shares of the specialty chemicals company’s stock worth $308,157,000 after buying an additional 117,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PPG Industries by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,342,002 shares of the specialty chemicals company’s stock worth $174,192,000 after buying an additional 9,530 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in PPG Industries by 16.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,041,804 shares of the specialty chemicals company’s stock valued at $154,219,000 after buying an additional 149,387 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $133.34 on Wednesday. PPG Industries, Inc. has a 52 week low of $120.32 and a 52 week high of $152.89. The firm has a 50 day moving average of $137.84 and a two-hundred day moving average of $139.15. The company has a quick ratio of 1.08, a current ratio of 1.55 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $31.27 billion, a PE ratio of 22.67, a P/E/G ratio of 1.65 and a beta of 1.30.

PPG Industries (NYSE:PPG) last released its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $1.82 earnings per share. On average, research analysts predict that PPG Industries, Inc. will post 8.45 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.95%. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

PPG Industries announced that its board has authorized a stock repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

PPG has been the topic of several recent research reports. Seaport Res Ptn raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. Bank of America reduced their price target on shares of PPG Industries from $167.00 to $164.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. UBS Group cut their target price on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.47.

Insiders Place Their Bets

In other news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by company insiders.

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.