Tower Research Capital LLC TRC Acquires 7,309 Shares of PPG Industries, Inc. (NYSE:PPG)

Tower Research Capital LLC TRC increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 82.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,145 shares of the specialty chemicals company's stock after purchasing an additional 7,309 shares during the quarter. Tower Research Capital LLC TRC's holdings in PPG Industries were worth $1,929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock valued at $151,276,000 after buying an additional 198,353 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of PPG Industries by 69.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company's stock valued at $7,153,000 after purchasing an additional 22,198 shares during the period. Tidal Investments LLC boosted its position in shares of PPG Industries by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company's stock worth $1,763,000 after purchasing an additional 162 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company's stock worth $403,049,000 after purchasing an additional 170,339 shares during the period. Finally, GAMMA Investing LLC increased its holdings in PPG Industries by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company's stock valued at $731,000 after purchasing an additional 498 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 4th. Bank of America restated a "neutral" rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $130.67.

PPG Industries Stock Up 0.5 %

PPG traded up $0.56 during trading hours on Monday, hitting $103.13. 330,170 shares of the company's stock were exchanged, compared to its average volume of 2,252,137. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The stock's 50-day moving average is $107.82 and its two-hundred day moving average is $116.98. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is 57.51%.

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.