PPG Industries, Inc. (NYSE:PPG) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 516,996 shares of the specialty chemicals company's stock after purchasing an additional 45,515 shares during the quarter. AQR Capital Management LLC owned about 0.22% of PPG Industries worth $61,755,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PPG. Lido Advisors LLC boosted its stake in PPG Industries by 128.1% in the 4th quarter. Lido Advisors LLC now owns 10,636 shares of the specialty chemicals company's stock worth $1,270,000 after buying an additional 5,973 shares during the last quarter. Northern Trust Corp boosted its position in shares of PPG Industries by 29.9% in the fourth quarter. Northern Trust Corp now owns 2,638,353 shares of the specialty chemicals company's stock worth $315,151,000 after acquiring an additional 607,154 shares during the last quarter. Quarry LP grew its holdings in PPG Industries by 60.9% in the fourth quarter. Quarry LP now owns 18,787 shares of the specialty chemicals company's stock valued at $2,244,000 after purchasing an additional 7,114 shares during the period. Coldstream Capital Management Inc. increased its position in PPG Industries by 8.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,241 shares of the specialty chemicals company's stock worth $387,000 after purchasing an additional 264 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in PPG Industries during the fourth quarter worth approximately $612,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Seaport Res Ptn downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Barclays reissued an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $128.83.

Insider Activity

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction dated 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 owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.33% of the company's stock.

PPG Industries Stock Down 1.4 %

NYSE PPG traded down $1.53 during trading hours on Tuesday, reaching $108.69. 752,145 shares of the company traded hands, compared to its average volume of 1,790,222. The stock has a market capitalization of $24.67 billion, a PE ratio of 22.96, a PEG ratio of 2.19 and a beta of 1.20. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a 50 day moving average of $106.87 and a two-hundred day moving average of $116.04.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. PPG Industries's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share 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. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.50%. PPG Industries's payout ratio is 58.24%.

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.