Aljian Capital Management LLC Takes Position in PPG Industries, Inc. (NYSE:PPG)

Aljian Capital Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,433 shares of the specialty chemicals company’s stock, valued at approximately $455,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PPG. Thrivent Financial for Lutherans increased its position in shares of PPG Industries by 9.1% in the third quarter. Thrivent Financial for Lutherans now owns 26,493 shares of the specialty chemicals company’s stock worth $3,509,000 after acquiring an additional 2,202 shares in the last quarter. AM Squared Ltd boosted its stake in PPG Industries by 61.5% in the 3rd quarter. AM Squared Ltd now owns 4,200 shares of the specialty chemicals company’s stock worth $556,000 after purchasing an additional 1,600 shares during the period. Tower Bridge Advisors grew its position in PPG Industries by 63.0% during the 3rd quarter. Tower Bridge Advisors now owns 4,400 shares of the specialty chemicals company’s stock worth $583,000 after purchasing an additional 1,700 shares in the last quarter. Gladius Capital Management LP acquired a new stake in PPG Industries during the 3rd quarter valued at $157,000. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of PPG Industries in the third quarter valued at $204,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PPG. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp dropped their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Barclays decreased their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Performance

PPG opened at $122.53 on Monday. 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 company has a market cap of $28.43 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. The stock has a 50-day moving average of $127.37 and a 200-day moving average of $127.78. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by insiders.

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.