Allianz SE Buys New Position in PPG Industries, Inc. (NYSE:PPG)

Allianz SE acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,705 shares of the specialty chemicals company’s stock, valued at approximately $1,513,000.

Several other institutional investors have also modified their holdings of PPG. Mutual Advisors LLC raised its holdings in shares of PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after buying an additional 92 shares in the last quarter. Groupama Asset Managment boosted its stake 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 valued at $1,027,000 after purchasing an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of 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 worth $990,000 after purchasing an additional 103 shares in the last quarter. Finally, Sachetta LLC lifted 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 purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on 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 transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PPG has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Mizuho decreased their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $138.15.

PPG Industries Stock Down 1.0 %

PPG stock opened at $107.32 on Friday. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a twelve month low of $105.64 and a twelve month high of $145.61. The business has a 50 day moving average price of $115.37 and a two-hundred day moving average price of $121.20. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. Analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

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

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.