Bell Asset Management Ltd Makes New $6.96 Million Investment in PPG Industries, Inc. (NYSE:PPG)

Bell Asset Management Ltd bought a new position in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 58,229 shares of the specialty chemicals company’s stock, valued at approximately $6,955,000. PPG Industries comprises about 1.3% of Bell Asset Management Ltd’s portfolio, making the stock its 23rd largest position.

Other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. bought a new position in PPG Industries in the 4th quarter worth approximately $27,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries in the 4th quarter valued at $36,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the fourth quarter worth $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries during the fourth quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC bought a new position in PPG Industries in the fourth quarter valued at about $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $98.98 on Monday. The company’s 50 day moving average price is $113.74 and its two-hundred day moving average price is $120.44. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $97.49 and a 52 week high of $142.30. The company has a market capitalization of $22.47 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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%. On average, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PPG. Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Barclays restated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Seaport Res Ptn lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Finally, UBS Group decreased their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $137.77.

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.