Two Sigma Investments LP Lowers Stake in PPG Industries, Inc. (NYSE:PPG)

Two Sigma Investments LP decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 95.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,169 shares of the specialty chemicals company's stock after selling 283,652 shares during the period. Two Sigma Investments LP's holdings in PPG Industries were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LRI Investments LLC raised its holdings in PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after buying an additional 92 shares during the last quarter. Kingsview Wealth Management LLC increased its stake in shares of PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after purchasing an additional 103 shares in the last quarter. Savant Capital LLC raised its position in shares of PPG Industries by 0.9% in the 4th quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company's stock worth $1,407,000 after purchasing an additional 107 shares during the last quarter. G&S Capital LLC increased its stake in PPG Industries by 2.2% during the 4th quarter. G&S Capital LLC now owns 5,024 shares of the specialty chemicals company's stock valued at $600,000 after purchasing an additional 109 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its stake in PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company's stock valued at $376,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPG shares. UBS Group raised their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Seaport Res Ptn downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.42.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $1.40 on Friday, hitting $112.66. 1,055,292 shares of the company traded hands, compared to its average volume of 1,821,010. The stock has a market capitalization of $25.57 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.17. 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 52 week low of $90.24 and a 52 week high of $137.24. The business has a 50-day simple moving average of $106.52 and a 200 day simple moving average of $113.89.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly 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 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 analysts' expectations of $3.67 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. PPG Industries's quarterly revenue was down 4.3% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share 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 given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) 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.