PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC grew its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 94.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 406,221 shares of the specialty chemicals company's stock after acquiring an additional 197,564 shares during the quarter. Worldquant Millennium Advisors LLC owned approximately 0.18% of PPG Industries worth $48,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Woodline Partners LP acquired a new position in shares of PPG Industries in the 4th quarter valued at about $1,664,000. Vident Advisory LLC boosted its stake in PPG Industries by 6.8% in the fourth quarter. Vident Advisory LLC now owns 4,495 shares of the specialty chemicals company's stock valued at $537,000 after acquiring an additional 285 shares during the period. WBI Investments LLC boosted its stake in PPG Industries by 85.9% in the fourth quarter. WBI Investments LLC now owns 6,645 shares of the specialty chemicals company's stock valued at $794,000 after acquiring an additional 3,070 shares during the period. Westwood Holdings Group Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $258,000. Finally, Tidal Investments LLC raised its position in shares of PPG Industries by 78.1% during the 4th quarter. Tidal Investments LLC now owns 23,703 shares of the specialty chemicals company's stock worth $2,831,000 after purchasing an additional 10,397 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho cut their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Bank of America restated a "neutral" rating and issued a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. 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. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Citigroup lowered their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Nine research 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Trading Up 0.1%

Shares of NYSE:PPG opened at $114.16 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 24.14, a PEG 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. The company has a 50 day moving average price of $106.50 and a 200 day moving average price of $114.99.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the previous year, the firm posted $1.87 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio is presently 58.24%.

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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