2 weeks Ago By ABMN Staff
Renaissance Technologies LLC reduced its stake in shares of PPG Industries, Inc. ( NYSE:PPG – Free Report ) by 76.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC).
The fund owned 37,000 shares of the specialty chemicals company’s stock after selling 119,200 shares during the quarter. Renaissance Technologies LLC’s holdings in PPG Industries were worth $4,420,000 as of its most recent SEC filing. Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG.
Norges Bank bought a new position in shares of PPG Industries during the 4th quarter worth approximately $470,535,000. First Eagle Investment Management LLC boosted its position in shares of PPG Industries by 138.9% in the 4th quarter.
First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares in the last quarter. Wellington Management Group LLP grew its stake in PPG Industries by 17.7% during the 4th quarter.
Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. Cooke & Bieler LP acquired a new position in PPG Industries during the 4th quarter valued at about $107,850,000. Finally, Vanguard Group Inc.
boosted its holdings in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc.
now owns 29,369,691 shares of the specialty chemicals company’s stock worth $3,508,210,000 after acquiring an additional 756,937 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
PPG Industries Stock Performance Shares of PPG stock opened at $99.45 on Tuesday. The company has a current ratio of 1.
58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.
The company has a market capitalization of $22.57 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.
19 and a beta of 1.16. The business’s 50 day moving average is $109.
07 and its two-hundred day moving average is $117.68. PPG Industries, Inc.
has a 12-month low of $90.24 and a 12-month high of $137.24.
PPG Industries Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share.
The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.
74%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.
Analysts Set New Price Targets Several brokerages recently commented on PPG. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd.
JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and cut their target price for the company from $145.00 to $115.
00 in a research report on Wednesday, February 12th. UBS Group dropped their price target on PPG Industries from $128.00 to $126.
00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, The Goldman Sachs Group reduced their price objective on PPG Industries from $153.00 to $135.
00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.
com, PPG Industries has an average rating of “Hold” and a consensus target price of $132.31. Check Out Our Latest Stock Analysis on PPG Industries Insider Activity 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 directly owns 35,833 shares in the company, valued at $4,240,835.55.
The trade was a 11.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink .
Company insiders own 0.33% of the company’s stock. About PPG Industries ( Free Report ) 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. Featured Stories Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.
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