Sterling Capital Management LLC Purchases 4,829 Shares of PPG Industries, Inc. (NYSE:PPG)

Sterling Capital Management LLC boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 54.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,740 shares of the specialty chemicals company’s stock after buying an additional 4,829 shares during the period. Sterling Capital Management LLC’s holdings in PPG Industries were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in shares of PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock worth $151,276,000 after buying an additional 198,353 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of PPG Industries by 69.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock valued at $7,153,000 after purchasing an additional 22,198 shares in the last quarter. Tidal Investments LLC boosted its position in PPG Industries by 1.2% during the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock valued at $1,763,000 after buying an additional 162 shares during the period. Franklin Resources Inc. grew its position in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after acquiring an additional 170,339 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of PPG Industries by 8.9% in the fourth quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock worth $731,000 after purchasing an additional 498 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

PPG Industries Price Performance

NYSE PPG opened at $101.51 on Tuesday. The business’s fifty day moving average is $110.61 and its 200 day moving average is $118.75. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a market capitalization of $23.04 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.68%. PPG Industries’s payout ratio is 57.51%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Argus cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Wells Fargo & Company cut their price target on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $134.15.

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.