PPG Industries, Inc. (NYSE:PPG) Shares Bought by ING Groep NV

ING Groep NV raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 144.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,282 shares of the specialty chemicals company's stock after acquiring an additional 42,715 shares during the period. ING Groep NV's holdings in PPG Industries were worth $10,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in PPG Industries by 47.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 19,777 shares of the specialty chemicals company's stock worth $2,567,000 after purchasing an additional 6,352 shares during the period. Jennison Associates LLC increased its stake in PPG Industries by 129.9% in the 3rd quarter. Jennison Associates LLC now owns 10,711 shares of the specialty chemicals company's stock worth $1,390,000 after buying an additional 6,052 shares during the period. Allworth Financial LP lifted its holdings in PPG Industries by 76.6% during the 3rd quarter. Allworth Financial LP now owns 696 shares of the specialty chemicals company's stock valued at $90,000 after buying an additional 302 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in PPG Industries by 7.0% in the 3rd quarter. New Mexico Educational Retirement Board now owns 12,218 shares of the specialty chemicals company's stock valued at $1,586,000 after buying an additional 800 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in PPG Industries by 13.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 21,541 shares of the specialty chemicals company's stock worth $2,796,000 after acquiring an additional 2,494 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Down 0.3 %

PPG traded down $0.34 during trading on Friday, hitting $134.44. The stock had a trading volume of 1,336,858 shares, compared to its average volume of 1,700,641. The stock has a 50 day simple moving average of $136.98 and a two-hundred day simple moving average of $139.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.08 and a current ratio of 1.55. PPG Industries, Inc. has a twelve month low of $120.32 and a twelve month high of $152.89. The company has a market capitalization of $31.53 billion, a PE ratio of 22.71, a PEG ratio of 1.67 and a beta of 1.30.

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

PPG Industries declared that its board has initiated a share repurchase program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

PPG Industries Dividend Announcement

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

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish bought 2,061 shares of the company's stock in a transaction on Wednesday, May 8th. The shares were bought at an average price of $133.24 per share, with a total value of $274,607.64. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at $4,774,388.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Timothy M. Knavish bought 2,061 shares of PPG Industries stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $133.24 per share, for a total transaction of $274,607.64. Following the purchase, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,774,388.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vincent J. Morales sold 3,400 shares of the business'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 disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPG. KeyCorp decreased their price target on shares of PPG Industries from $164.00 to $162.00 and set an "overweight" rating for the company in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on PPG Industries from $160.00 to $155.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Evercore ISI downgraded PPG Industries from an "outperform" rating to an "in-line" rating and set a $152.00 price target on the stock. in a research report on Monday, April 22nd. Royal Bank of Canada decreased their price objective on PPG Industries from $156.00 to $141.00 and set a "sector perform" rating for the company in a report on Monday, April 22nd. Finally, Citigroup dropped their target price on shares of PPG Industries from $170.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.47.

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.