HighTower Advisors LLC Grows Stake in PPG Industries, Inc. (NYSE:PPG)

HighTower Advisors LLC lifted its position in PPG Industries, Inc. (NYSE:PPG – Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,394 shares of the specialty chemicals company’s stock after buying an additional 6,557 shares during the period. HighTower Advisors LLC’s holdings in PPG Industries were worth $9,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter valued at $27,000. Pin Oak Investment Advisors Inc. lifted its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Albion Financial Group UT purchased a new position in PPG Industries during the fourth quarter valued at $38,000. Crews Bank & Trust purchased a new position in PPG Industries during the fourth quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $44,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of several analyst reports. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Seaport Res Ptn cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Finally, Argus cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $138.15.

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Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Up 0.3 %

Shares of PPG stock opened at $113.85 on Tuesday. PPG Industries, Inc. has a 12-month low of $109.15 and a 12-month high of $145.61. 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 stock’s 50-day moving average price is $116.33 and its 200-day moving average price is $122.16. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22.

PPG Industries (NYSE:PPG – Get Free Report) last issued its 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%. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were given a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 57.51%.

PPG Industries Company Profile

(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.