Elo Mutual Pension Insurance Co Buys 2,516 Shares of PPG Industries, Inc. (NYSE:PPG)

Elo Mutual Pension Insurance Co grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,268 shares of the specialty chemicals company’s stock after acquiring an additional 2,516 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in PPG Industries were worth $2,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mutual Advisors LLC grew its stake in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares during the last quarter. Groupama Asset Managment raised its position in PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after purchasing an additional 93 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after purchasing an additional 95 shares in the last quarter. Kingsview Wealth Management LLC increased its stake in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares during the period. Finally, Sachetta LLC raised its holdings in PPG Industries by 18.4% in the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock valued at $81,000 after buying an additional 105 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $107.32 on Friday. PPG Industries, Inc. has a one year low of $105.64 and a one year high of $145.61. The firm has a market capitalization of $24.36 billion, a P/E ratio of 22.69, 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 business has a fifty day moving average of $115.37 and a 200 day moving average of $121.23.

PPG Industries (NYSE:PPG) last issued its 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%. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.53%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada lowered their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Finally, Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Nine 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.com, the company has a consensus rating of “Hold” and a consensus target price of $138.15.

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.