Intech Investment Management LLC Has $17.04 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Intech Investment Management LLC raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 139.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 128,663 shares of the specialty chemicals company’s stock after acquiring an additional 74,984 shares during the quarter. Intech Investment Management LLC’s holdings in PPG Industries were worth $17,043,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PPG. Financial Connections Group Inc. bought a new stake in PPG Industries during the second quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries during the third quarter worth $34,000. Rothschild Investment LLC acquired a new stake in shares of PPG Industries in the second quarter valued at $37,000. Hara Capital LLC acquired a new position in PPG Industries during the 3rd quarter worth about $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in PPG Industries during the 3rd quarter worth about $46,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PPG shares. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Price Performance

PPG Industries stock opened at $121.29 on Thursday. The stock’s fifty day moving average price is $127.14 and its two-hundred day moving average price is $127.59. The firm has a market cap of $28.14 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16.

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

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

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.