OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 52.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,300 shares of the specialty chemicals company’s stock after acquiring an additional 4,900 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in PPG Industries were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of PPG. G&S Capital LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $110,000. Cerebellum GP LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $128,000. SeaCrest Wealth Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $132,000. Crewe Advisors LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $136,000. Finally, NuWave Investment Management LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $150,000. 76.81% of the stock is owned by institutional investors.
In related news, VP Jean-Marie Greindl sold 9,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the transaction, the vice president now directly owns 27,685 shares of the company’s stock, valued at approximately $3,205,646.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.
PPG Industries, Inc. (PPG) opened at $111.31 on Friday. The stock has a market capitalization of $28,473.89, a P/E ratio of 17.64, a PEG ratio of 1.98 and a beta of 1.56. PPG Industries, Inc. has a one year low of $100.45 and a one year high of $122.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.66.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 EPS. research analysts anticipate that PPG Industries, Inc. will post 6.54 earnings per share for the current year.
PPG Industries declared that its board has authorized a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, February 15th. PPG Industries’s payout ratio is currently 28.53%.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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