Mariner LLC Purchases 1,680 Shares of PPG Industries, Inc. (NYSE:PPG)

Mariner LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,540 shares of the specialty chemicals company’s stock after acquiring an additional 1,680 shares during the period. Mariner LLC’s holdings in PPG Industries were worth $8,307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Wellington Management Group LLP lifted its holdings in PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after buying an additional 1,590,041 shares in the last quarter. Geode Capital Management LLC boosted its position in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock valued at $660,752,000 after buying an additional 93,455 shares during the last quarter. Invesco Ltd. increased its stake in shares of PPG Industries by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock valued at $564,596,000 after buying an additional 271,699 shares during the period. Finally, Norges Bank bought a new stake in shares of PPG Industries during the fourth quarter worth $470,535,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PPG Industries

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 value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Citigroup lowered their price target on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Hold” and a consensus target price of $132.31.

PPG Industries Stock Performance

Shares of PPG opened at $100.00 on Friday. The firm’s 50 day moving average price is $109.37 and its two-hundred day moving average price is $118.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm has a market cap of $22.70 billion, a P/E ratio of 21.14, a PEG 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.72%. PPG Industries’s dividend payout ratio is presently 57.51%.

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.