Gladius Capital Management LP Invests $157,000 in PPG Industries, Inc. (NYSE:PPG)

Gladius Capital Management LP bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,184 shares of the specialty chemicals company’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Sei Investments Co. increased its stake in shares of PPG Industries by 10.2% in the first quarter. Sei Investments Co. now owns 61,648 shares of the specialty chemicals company’s stock worth $8,930,000 after buying an additional 5,700 shares during the period. Blair William & Co. IL increased its position in shares of PPG Industries by 3.0% in the first quarter. Blair William & Co. IL now owns 34,470 shares of the specialty chemicals company’s stock valued at $4,995,000 after acquiring an additional 998 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of PPG Industries by 2.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 154,969 shares of the specialty chemicals company’s stock valued at $22,407,000 after acquiring an additional 4,406 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of PPG Industries in the first quarter worth about $669,000. 81.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Citigroup reduced their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $122.53 on Friday. The firm’s 50-day moving average price is $127.37 and its 200-day moving average price is $127.80. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a market cap of $28.43 billion, a PE ratio of 19.42, a PEG ratio of 1.87 and a beta of 1.26. 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) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 EPS. As a group, analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

About PPG Industries

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.