PPG Industries, Inc. (NYSE:PPG) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its position in PPG Industries, Inc. (NYSE:PPG) by 47.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,012 shares of the specialty chemicals company’s stock after acquiring an additional 327 shares during the period. Lindbrook Capital LLC’s holdings in PPG Industries were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Invesco Ltd. grew its position in shares of PPG Industries by 41.1% in the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after acquiring an additional 959,849 shares in the last quarter. Morgan Stanley grew its position in shares of PPG Industries by 12.4% in the 3rd quarter. Morgan Stanley now owns 3,102,602 shares of the specialty chemicals company’s stock worth $402,718,000 after acquiring an additional 341,977 shares in the last quarter. Northern Trust Corp grew its position in shares of PPG Industries by 5.2% in the 3rd quarter. Northern Trust Corp now owns 2,374,093 shares of the specialty chemicals company’s stock worth $308,157,000 after acquiring an additional 117,526 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in PPG Industries by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,342,002 shares of the specialty chemicals company’s stock valued at $174,192,000 after purchasing an additional 9,530 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in PPG Industries by 16.7% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 1,041,804 shares of the specialty chemicals company’s stock valued at $154,219,000 after purchasing an additional 149,387 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research report on Monday. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Finally, BMO Capital Markets reduced their price objective on PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and an average target price of $155.50.

PPG Industries Stock Down 0.6 %

PPG opened at $130.40 on Wednesday. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.55. The stock’s fifty day moving average is $140.00 and its 200-day moving average is $138.97. The company has a market capitalization of $30.58 billion, a PE ratio of 22.03, a P/E/G ratio of 1.57 and a beta of 1.28.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the business earned $1.82 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post 8.47 EPS for the current fiscal year.

PPG Industries announced that its Board of Directors has approved a stock repurchase plan on Thursday, April 18th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is presently 43.92%.

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.