26,284 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,284 shares of the specialty chemicals company's stock, valued at approximately $3,140,000.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in PPG Industries during the fourth quarter worth about $470,535,000. Kovitz Investment Group Partners LLC increased its holdings in shares of PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after purchasing an additional 3,592,655 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 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 buying an additional 2,700,018 shares in the last quarter. First Eagle Investment Management LLC raised its position in shares of 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 buying an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 1,590,041 shares during the period. Institutional investors own 81.86% of the company's stock.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PPG. Mizuho dropped their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Citigroup cut their price objective on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of "Hold" and a consensus price target of $129.42.

PPG Industries Trading Down 0.0 %

NYSE PPG opened at $108.85 on Friday. The stock has a market capitalization of $24.71 billion, a P/E ratio of 23.01, a P/E/G ratio of 2.19 and a beta of 1.16. The business has a 50 day simple moving average of $107.05 and a 200 day simple moving average of $116.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company earned $1.87 EPS. PPG Industries's quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 2.50%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio is currently 57.51%.

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.

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