Jump Financial LLC Sells 25,191 Shares of PPG Industries, Inc. (NYSE:PPG)

Jump Financial LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 73.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,305 shares of the specialty chemicals company's stock after selling 25,191 shares during the period. Jump Financial LLC's holdings in PPG Industries were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PPG. Valued Wealth Advisors LLC purchased a new position in shares of PPG Industries in the fourth quarter worth about $26,000. SJS Investment Consulting Inc. raised its stake in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company's stock worth $27,000 after acquiring an additional 153 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of PPG Industries during the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of PPG Industries during the fourth quarter worth approximately $29,000. Finally, Financial Connections Group Inc. purchased a new position in shares of PPG Industries in the fourth quarter worth $30,000. 81.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish bought 2,061 shares of PPG Industries stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,774,388.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Vincent J. Morales sold 3,400 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares of the company's stock, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy M. Knavish acquired 2,061 shares of PPG Industries stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, with a total value of $274,607.64. Following the completion of the purchase, the chief executive officer now owns 35,833 shares in the company, valued at $4,774,388.92. The disclosure for this purchase can be found here. 0.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PPG has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of PPG Industries from $164.00 to $162.00 and set an "overweight" rating on the stock in a research note on Monday, April 22nd. Citigroup lowered their price target on PPG Industries from $170.00 to $161.00 and set a "buy" rating for the company in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded PPG Industries from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Seaport Res Ptn upgraded PPG Industries from a "neutral" rating to a "buy" rating in a research note on Monday, April 22nd. Finally, Wolfe Research assumed coverage on PPG Industries in a research note on Friday, March 1st. They set a "peer perform" rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.47.

PPG Industries Price Performance

PPG traded down $0.26 during trading on Thursday, hitting $134.78. The company's stock had a trading volume of 1,071,213 shares, compared to its average volume of 1,726,040. The company has a current ratio of 1.55, a quick ratio of 1.08 and a debt-to-equity ratio of 0.73. The business's fifty day simple moving average is $137.23 and its 200 day simple moving average is $139.56. The firm has a market capitalization of $31.61 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 1.69 and a beta of 1.30. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The business's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 earnings per share. On average, equities research analysts forecast that PPG Industries, Inc. will post 8.44 EPS for the current fiscal year.

PPG Industries announced that its Board of Directors has approved a share repurchase plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.93%. PPG Industries's payout ratio is 43.92%.

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.