Epoch Investment Partners Inc. Buys 6,706 Shares of PPG Industries, Inc. (NYSE:PPG)

by · The Cerbat Gem

Epoch Investment Partners Inc. lifted its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,888 shares of the specialty chemicals company’s stock after acquiring an additional 6,706 shares during the quarter. Epoch Investment Partners Inc.’s holdings in PPG Industries were worth $13,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PPG. Mutual Advisors LLC grew its stake in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock valued at $51,000 after acquiring an additional 95 shares during the period. Kingsview Wealth Management LLC grew its position in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after acquiring an additional 103 shares during the last quarter. Sachetta LLC increased its stake in PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after purchasing an additional 105 shares during the period. Finally, Savant Capital LLC lifted its position in shares of PPG Industries by 0.9% during the fourth quarter. Savant Capital LLC now owns 11,779 shares of the specialty chemicals company’s stock worth $1,407,000 after purchasing an additional 107 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

PPG stock opened at $100.00 on Friday. The firm has a 50-day simple moving average of $109.37 and a two-hundred day simple moving average of $117.95. 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 one year low of $90.24 and a one year high of $137.24. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 21.14, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG – Get Free Report) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.72%. PPG Industries’s dividend payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The sale 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.

Analysts Set New Price Targets

A number of research firms have recently commented on PPG. Mizuho cut their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company dropped their target price on shares of PPG Industries from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. StockNews.com downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Bank of America reissued a “neutral” rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average target price of $132.31.

Read Our Latest Stock Analysis on PPG

PPG Industries 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.

Further Reading

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