Tiverton Asset Management LLC boosted its stake in shares of PPG Industries (NYSE:PPG) by 45.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,534 shares of the specialty chemicals company’s stock after purchasing an additional 795 shares during the quarter. Tiverton Asset Management LLC’s holdings in PPG Industries were worth $283,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PPG. Bank of Montreal Can boosted its position in PPG Industries by 41.2% during the 4th quarter. Bank of Montreal Can now owns 259,602 shares of the specialty chemicals company’s stock valued at $30,328,000 after purchasing an additional 75,741 shares during the period. State of Alaska Department of Revenue boosted its position in PPG Industries by 443.0% during the 4th quarter. State of Alaska Department of Revenue now owns 31,526 shares of the specialty chemicals company’s stock valued at $3,680,000 after purchasing an additional 25,720 shares during the period. TRUE Private Wealth Advisors boosted its position in PPG Industries by 101.8% during the 4th quarter. TRUE Private Wealth Advisors now owns 4,454 shares of the specialty chemicals company’s stock valued at $520,000 after purchasing an additional 2,247 shares during the period. V Wealth Management LLC acquired a new position in PPG Industries during the 4th quarter valued at approximately $204,000. Finally, Terril Brothers Inc. acquired a new position in PPG Industries during the 4th quarter valued at approximately $694,000. Institutional investors and hedge funds own 76.92% of the company’s stock.
Shares of PPG Industries opened at $104.41 on Friday, Marketbeat reports. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. PPG Industries has a 1 year low of $101.76 and a 1 year high of $103.61. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.81 and a beta of 1.56.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Thursday, May 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. PPG Industries’s dividend payout ratio (DPR) is 30.66%.
A number of research firms recently issued reports on PPG. Northcoast Research restated a “buy” rating and set a $128.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. JPMorgan Chase restated a “neutral” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Friday, January 19th. Citigroup reduced their price objective on PPG Industries from $128.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. ValuEngine lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $124.06.
In other news, VP Jean-Marie Greindl sold 9,500 shares of the company’s stock in a transaction 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 sale, the vice president now owns 27,685 shares in the company, valued at $3,205,646.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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