NEOS Investment Management LLC Acquires 2,483 Shares of PPG Industries, Inc. (NYSE:PPG)

NEOS Investment Management LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,183 shares of the specialty chemicals company’s stock after purchasing an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in PPG Industries were worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PPG. Mutual Advisors LLC grew its position in PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after acquiring an additional 92 shares in the last quarter. Groupama Asset Managment boosted its holdings in shares of PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after purchasing an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of PPG Industries by 28.3% during the 4th 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 during the last quarter. Kingsview Wealth Management LLC raised its holdings in PPG Industries by 1.3% during the 4th 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% during 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 period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Down 1.0 %

NYSE:PPG opened at $107.32 on Friday. 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 1-year low of $105.64 and a 1-year high of $145.61. The company has a 50-day moving average of $115.37 and a 200 day moving average of $121.20. The firm has a market cap of $24.36 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PPG shares. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, UBS Group reduced their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries has an average rating of “Hold” and a consensus target price of $138.15.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.