Brevan Howard Capital Management LP Sells 5,358 Shares of PPG Industries, Inc. (NYSE:PPG)

Brevan Howard Capital Management LP cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,192 shares of the specialty chemicals company's stock after selling 5,358 shares during the period. Brevan Howard Capital Management LP's holdings in PPG Industries were worth $1,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of PPG Industries by 11.0% during the fourth quarter. Captrust Financial Advisors now owns 20,885 shares of the specialty chemicals company's stock worth $2,495,000 after purchasing an additional 2,072 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in PPG Industries during the 4th quarter worth about $1,746,000. Chapman Financial Group LLC acquired a new stake in PPG Industries in the 4th quarter valued at about $74,000. Brown Advisory Inc. raised its stake in shares of PPG Industries by 4.9% in the fourth quarter. Brown Advisory Inc. now owns 658,751 shares of the specialty chemicals company's stock worth $78,688,000 after acquiring an additional 31,038 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its position in shares of PPG Industries by 3.1% during the fourth quarter. Benjamin Edwards Inc. now owns 22,792 shares of the specialty chemicals company's stock worth $2,722,000 after purchasing an additional 684 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Down 1.4 %

Shares of NYSE PPG opened at $108.69 on Wednesday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company's fifty day moving average is $106.77 and its 200-day moving average is $115.99.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping 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 analyst estimates of $3.67 billion. During the same period in the previous year, the company posted $1.87 earnings per share. The company's revenue for the quarter was down 4.3% on a year-over-year basis. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company 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. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.50%. PPG Industries's dividend payout ratio (DPR) is 58.24%.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PPG has been the subject of several research reports. UBS Group lifted their target price on PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective 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. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $128.83.

About PPG Industries

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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