Perennial Investment Advisors LLC Makes New $365,000 Investment in PPG Industries, Inc. (NYSE:PPG)

Perennial Investment Advisors LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,058 shares of the specialty chemicals company’s stock, valued at approximately $365,000.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after buying an additional 756,937 shares in the last quarter. Wellington Management Group LLP boosted its holdings in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after purchasing an additional 1,590,041 shares during the period. Geode Capital Management LLC grew its position in shares of PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock valued at $660,752,000 after purchasing an additional 93,455 shares in the last quarter. Norges Bank bought a new position in shares of PPG Industries in the fourth quarter worth $470,535,000. Finally, Franklin Resources Inc. boosted its stake in PPG Industries by 7.0% during the fourth quarter. Franklin Resources Inc. now owns 3,356,722 shares of the specialty chemicals company’s stock valued at $400,960,000 after buying an additional 220,152 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PPG shares. The Goldman Sachs Group dropped their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. UBS Group decreased their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and an average price target of $137.77.

PPG Industries Trading Down 4.8 %

PPG opened at $98.98 on Monday. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.19 and a beta of 1.16. PPG Industries, Inc. has a one year low of $97.49 and a one year high of $142.30. The business has a 50 day simple moving average of $113.74 and a two-hundred day simple moving average of $120.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.75%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

PPG Industries 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.