Vinva Investment Management Ltd Purchases 361 Shares of PPG Industries, Inc. (NYSE:PPG)

Vinva Investment Management Ltd increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,701 shares of the specialty chemicals company’s stock after buying an additional 361 shares during the period. Vinva Investment Management Ltd’s holdings in PPG Industries were worth $1,036,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Financial Connections Group Inc. bought a new stake in PPG Industries in the second quarter valued at $25,000. Capital Performance Advisors LLP bought a new stake in PPG Industries in the third quarter valued at $34,000. Rothschild Investment LLC bought a new stake in PPG Industries in the second quarter valued at $37,000. Hara Capital LLC bought a new stake in PPG Industries in the third quarter valued at $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in PPG Industries in the third quarter valued at $46,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.8 %

PPG Industries stock opened at $124.43 on Friday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a market cap of $28.87 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. The firm’s 50-day simple moving average is $126.65 and its 200 day simple moving average is $127.12. 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 (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 8.24% and a return on equity of 23.63%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business 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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Wall Street Analyst Weigh In

PPG has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Mizuho reduced their price objective 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. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

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.