Gotham Asset Management LLC Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Gotham Asset Management LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 155.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,971 shares of the specialty chemicals company’s stock after purchasing an additional 108,902 shares during the period. Gotham Asset Management LLC owned 0.08% of PPG Industries worth $21,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after purchasing an additional 198,353 shares in the last quarter. Nordea Investment Management AB boosted its holdings in PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock valued at $2,328,000 after purchasing an additional 687 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in PPG Industries by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 62,296 shares of the specialty chemicals company’s stock valued at $8,252,000 after purchasing an additional 1,037 shares in the last quarter. Czech National Bank increased its holdings in PPG Industries by 5.8% during the 4th quarter. Czech National Bank now owns 50,303 shares of the specialty chemicals company’s stock worth $6,009,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in PPG Industries by 10.1% during the 4th quarter. Wedmont Private Capital now owns 2,488 shares of the specialty chemicals company’s stock worth $282,000 after purchasing an additional 229 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Bank of America reiterated a “neutral” rating and issued a $126.00 price target (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

PPG Industries Stock Performance

PPG stock opened at $109.32 on Friday. The stock’s fifty day moving average is $106.58 and its two-hundred day moving average is $115.67. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.19 and a beta of 1.20. 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 1 year low of $90.24 and a 1 year high of $137.24.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. PPG Industries’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.87 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is currently 58.24%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

PPG Industries Company 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.