International Assets Investment Management LLC Purchases Shares of 147,430 PPG Industries, Inc. (NYSE:PPG)

International Assets Investment Management LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 147,430 shares of the specialty chemicals company’s stock, valued at approximately $22,048,000.

Other hedge funds also recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in PPG Industries during the third quarter valued at approximately $25,000. Valued Wealth Advisors LLC bought a new position in shares of PPG Industries in the fourth quarter valued at $26,000. SJS Investment Consulting Inc. grew its stake 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 valued at $27,000 after buying an additional 153 shares in the last quarter. CVA Family Office LLC acquired a new position in PPG Industries during the fourth quarter worth $28,000. Finally, Exchange Traded Concepts LLC raised its position in PPG Industries by 2,278.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 333 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $132.92 on Friday. 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 $31.17 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a 50-day simple moving average of $138.16 and a two-hundred day simple moving average of $138.89.

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

PPG Industries declared that its board has approved a share 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 buy up to 8.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

Insider Activity at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PPG shares. UBS Group lowered their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Robert W. Baird reissued an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a research report on Friday, January 19th. Royal Bank of Canada dropped their price objective on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Barclays reduced their target price on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Finally, Evercore ISI cut PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price target on the stock. in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $155.47.

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.