Quadrature Capital Ltd Raises Position in PPG Industries, Inc. (NYSE:PPG)

Quadrature Capital Ltd lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 641.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,523 shares of the specialty chemicals company’s stock after buying an additional 31,597 shares during the period. Quadrature Capital Ltd’s holdings in PPG Industries were worth $5,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $26,000. SJS Investment Consulting Inc. boosted its position in shares of PPG Industries by 588.5% in the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the period. Private Wealth Management Group LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $27,000. CVA Family Office LLC purchased a new position in PPG Industries in the fourth quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in PPG Industries in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish bought 2,061 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,774,388.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.56% of the company’s stock.

PPG Industries Stock Down 0.3 %

Shares of PPG Industries stock opened at $127.86 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $132.06 and its 200-day simple moving average is $139.33. The stock has a market capitalization of $29.98 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.59 and a beta of 1.28. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 8.44 earnings per share for the current year.

PPG Industries announced that its board has approved a stock repurchase plan on Thursday, April 18th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PPG shares. Bank of America reduced their price target on PPG Industries from $167.00 to $164.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Wolfe Research started coverage on PPG Industries in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Royal Bank of Canada reduced their price target on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. BMO Capital Markets reduced their price target on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a report on Tuesday, April 23rd. Finally, StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $155.47.

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.