Lindbrook Capital LLC Acquires 173 Shares of PPG Industries, Inc. (NYSE:PPG)

Lindbrook Capital LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 25.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 852 shares of the specialty chemicals company’s stock after buying an additional 173 shares during the quarter. Lindbrook Capital LLC’s holdings in PPG Industries were worth $102,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at about $82,071,000. State Street Corp increased its stake in shares of PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares in the last quarter. FMR LLC increased its stake in shares of PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after purchasing an additional 354,740 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of PPG Industries by 65.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after purchasing an additional 206,853 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PPG shares. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 4th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $138.15.

PPG Industries Trading Up 0.1 %

Shares of PPG Industries stock opened at $115.47 on Friday. PPG Industries, Inc. has a 1 year low of $109.15 and a 1 year high of $145.61. The firm has a market cap of $26.21 billion, a PE ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a 50 day simple moving average of $116.82 and a two-hundred day simple moving average of $122.77.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.36%. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% 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.