Ellevest Inc. Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

Ellevest Inc. acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,572 shares of the specialty chemicals company's stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock worth $3,508,210,000 after purchasing an additional 756,937 shares during the period. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 1,590,041 shares during the period. Geode Capital Management LLC boosted its holdings in shares of PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares during the period. Invesco Ltd. boosted its holdings in shares of PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after acquiring an additional 271,699 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of 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 period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Up 4.3%

NYSE:PPG traded up $4.74 during trading hours on Monday, hitting $114.18. 1,989,101 shares of the company's stock traded hands, compared to its average volume of 1,802,407. The stock's fifty day moving average price is $106.58 and its two-hundred day moving average price is $115.43. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm has a market cap of $25.92 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.19 and a beta of 1.20.

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 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 quarter last year, the firm posted $1.87 EPS. The company's revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.68 dividend. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.38%. PPG Industries's payout ratio is 58.24%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. StockNews.com lowered PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Seaport Res Ptn lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group cut their price objective on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Bank of America restated a "neutral" rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $128.42.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

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.