4,751 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,751 shares of the specialty chemicals company’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Norges Bank purchased a new position in PPG Industries in the fourth quarter valued at about $470,535,000. Kovitz Investment Group Partners LLC boosted its stake in PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after acquiring an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock valued at $362,074,000 after acquiring an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after acquiring an additional 1,858,895 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PPG shares. Citigroup dropped their target price on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price target 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. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating on the stock 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 given a strong buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.42.

PPG Industries Stock Performance

PPG Industries stock opened at $113.99 on Friday. The firm’s 50 day simple moving average is $106.44 and its 200 day simple moving average is $115.20. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $25.88 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

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.