31,569 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,569 shares of the specialty chemicals company's stock, valued at approximately $4,721,000.

Several other institutional investors also recently modified their holdings of the stock. Cambiar Investors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $57,660,000. Meeder Advisory Services Inc. grew its stake in shares of PPG Industries by 3.5% in the fourth quarter. Meeder Advisory Services Inc. now owns 3,726 shares of the specialty chemicals company's stock worth $557,000 after purchasing an additional 126 shares during the last quarter. Wakefield Asset Management LLLP grew its stake in shares of PPG Industries by 173.0% in the fourth quarter. Wakefield Asset Management LLLP now owns 23,018 shares of the specialty chemicals company's stock worth $3,442,000 after purchasing an additional 14,588 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of PPG Industries by 1.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 46,703 shares of the specialty chemicals company's stock worth $6,984,000 after purchasing an additional 800 shares during the last quarter. Finally, Barrett & Company Inc. grew its stake in shares of PPG Industries by 10.6% in the fourth quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company's stock worth $114,000 after purchasing an additional 73 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.5 %

Shares of PPG stock traded down $0.73 on Friday, reaching $139.04. 1,061,714 shares of the company were exchanged, compared to its average volume of 1,598,674. The company has a market cap of $32.72 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.37 and a beta of 1.28. The company has a 50-day moving average of $141.20 and a 200-day moving average of $138.55. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.49 by $0.04. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. Analysts anticipate that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Thursday, February 15th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.87%. PPG Industries's dividend payout ratio is presently 48.69%.

Analyst Upgrades and Downgrades

PPG has been the topic of several analyst reports. Robert W. Baird reissued an "outperform" rating and issued a $150.00 price objective on shares of PPG Industries in a research note on Friday, January 19th. Vertical Research raised shares of PPG Industries from a "hold" rating to a "buy" rating in a research note on Wednesday, January 3rd. Redburn Atlantic cut shares of PPG Industries from a "buy" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a research note on Thursday, February 1st. Wells Fargo & Company upped their price target on shares of PPG Industries from $140.00 to $150.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 9th. Finally, Wolfe Research began coverage on shares of PPG Industries in a research report on Friday, March 1st. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $157.13.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by company 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.