Gallo Partners LP Invests $2.02 Million in PPG Industries, Inc. (NYSE:PPG)

Gallo Partners LP acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 16,928 shares of the specialty chemicals company's stock, valued at approximately $2,022,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at about $27,000. Prudent Man Investment Management Inc. bought a new stake in PPG Industries in the 4th quarter valued at approximately $36,000. Albion Financial Group UT acquired a new position in PPG Industries during the 4th quarter worth approximately $38,000. Crews Bank & Trust bought a new position in shares of PPG Industries during the 4th quarter worth approximately $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $44,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPG has been the subject of a number of analyst reports. UBS Group raised their target price on shares of PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday. Mizuho dropped their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada raised their price target on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Citigroup dropped their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $128.83.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

PPG Industries Stock Performance

PPG Industries stock traded up $1.68 during mid-day trading on Friday, hitting $110.45. 2,083,878 shares of the company's stock traded hands, compared to its average volume of 1,792,114. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $106.97 and a two-hundred day simple moving average of $116.39. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.19 and a beta of 1.16.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter last year, the company posted $1.87 EPS. PPG Industries's quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, May 12th. PPG Industries's payout ratio is 57.51%.

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.