HUB Investment Partners LLC Takes $395,000 Position in PPG Industries, Inc. (NYSE:PPG)

HUB Investment Partners LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,305 shares of the specialty chemicals company’s stock, valued at approximately $395,000.

Several other hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its stake in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after buying an additional 1,858,895 shares during the last quarter. Cooke & Bieler LP purchased a new position in PPG Industries during the 4th quarter valued at $107,850,000. Raymond James Financial Inc. purchased a new stake in PPG Industries in the fourth quarter worth $82,071,000. State Street Corp lifted its position in shares of PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $110.75 on Friday. The firm’s fifty day simple moving average is $116.09 and its two-hundred day simple moving average is $121.78. The firm has a market capitalization of $25.14 billion, a P/E ratio of 23.42, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61.

PPG Industries (NYSE:PPG) last announced 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%. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business 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. This represents a $2.72 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in 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. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada cut their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $138.15.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.