PPG Industries, Inc. $PPG Shares Bought by Equity Investment Corp

Equity Investment Corp grew its stake in PPG Industries, Inc. (NYSE:PPG) by 12.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,262,708 shares of the specialty chemicals company’s stock after buying an additional 136,707 shares during the quarter. PPG Industries accounts for approximately 1.8% of Equity Investment Corp’s portfolio, making the stock its 16th biggest position. Equity Investment Corp’s holdings in PPG Industries were worth $131,738,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of PPG Industries during the second quarter worth approximately $2,856,392,000. State Street Corp raised its holdings in PPG Industries by 8.8% in the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock valued at $1,682,428,000 after acquiring an additional 1,124,109 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in PPG Industries in the second quarter valued at approximately $946,964,000. Bank of New York Mellon Corp purchased a new position in PPG Industries in the second quarter worth approximately $318,870,000. Finally, Dimensional Fund Advisors LP lifted its stake in PPG Industries by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock worth $312,613,000 after acquiring an additional 58,411 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the sale, the vice president owned 9,761 shares in the company, valued at approximately $1,241,013.54. The trade was a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

PPG Industries Trading Down 0.7%

PPG opened at $124.41 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The company has a market cap of $27.48 billion, a P/E ratio of 17.77, a PEG ratio of 2.16 and a beta of 1.00. The business’s 50-day simple moving average is $110.25 and its 200-day simple moving average is $112.96.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.13. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 earnings per share. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.98 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is presently 42.29%.

Wall Street Analyst Weigh In

Several research firms have commented on PPG. UBS Group boosted their price target on shares of PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Barclays raised their price objective on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Citigroup lifted their price objective on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.