Quarry LP Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Quarry LP increased its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 60.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,787 shares of the specialty chemicals company's stock after purchasing an additional 7,114 shares during the period. Quarry LP's holdings in PPG Industries were worth $2,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its holdings in shares of PPG Industries by 8.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,241 shares of the specialty chemicals company's stock valued at $387,000 after purchasing an additional 264 shares during the period. Two Sigma Securities LLC acquired a new position in PPG Industries in the 4th quarter worth approximately $612,000. Kovitz Investment Group Partners LLC raised its position in PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after buying an additional 3,592,655 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in PPG Industries by 101.3% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 15,000 shares of the specialty chemicals company's stock worth $1,792,000 after buying an additional 7,550 shares during the last quarter. Finally, MGO One Seven LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $354,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PPG shares. Bank of America reiterated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Royal Bank of Canada reduced their price target on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. Finally, Citigroup lowered their price objective on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $129.42.

PPG Industries Price Performance

Shares of PPG stock traded down $0.01 on Thursday, reaching $108.85. 2,837,668 shares of the company were exchanged, compared to its average volume of 1,796,198. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business has a 50-day moving average price of $107.14 and a 200 day moving average price of $116.66. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.87 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.50%. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company's stock.

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.