Tidal Investments LLC Has $2.83 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Tidal Investments LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,703 shares of the specialty chemicals company’s stock after acquiring an additional 10,397 shares during the quarter. Tidal Investments LLC’s holdings in PPG Industries were worth $2,831,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PPG. Prudent Man Investment Management Inc. bought a new position in PPG Industries in the fourth quarter valued at approximately $36,000. Albion Financial Group UT bought a new position in PPG Industries in the fourth quarter valued at approximately $38,000. Crews Bank & Trust bought a new position in PPG Industries in the fourth quarter valued at approximately $42,000. Millstone Evans Group LLC acquired a new stake in PPG Industries in the fourth quarter valued at about $46,000. Finally, Human Investing LLC acquired a new stake in PPG Industries in the fourth quarter valued at about $48,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Down 2.2%

Shares of PPG opened at $111.30 on Thursday. The company has a market capitalization of $25.26 billion, a PE ratio of 23.53, a PEG ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The stock’s 50-day moving average price is $106.50 and its two-hundred day moving average price is $114.96. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.44%. PPG Industries’s payout ratio is 58.24%.

Analyst Upgrades and Downgrades

PPG has been the topic of several research analyst reports. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada increased their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $128.42.

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.