Jump Financial LLC Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

by · The Markets Daily

Jump Financial LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 40.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,612 shares of the specialty chemicals company’s stock after acquiring an additional 1,626 shares during the period. Jump Financial LLC’s holdings in PPG Industries were worth $670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $27,000. Prudent Man Investment Management Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at $36,000. Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter valued at $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries during the 4th quarter valued at $42,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in PPG Industries in the 4th quarter valued at $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Seaport Res Ptn cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $130.67.

Check Out Our Latest Stock Analysis on PPG Industries

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $101.77 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a fifty day moving average price of $108.74 and a two-hundred day moving average price of $117.57. The company has a market cap of $23.10 billion, a PE ratio of 21.52, a P/E/G ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG – Get Free Report) last announced its quarterly earnings data 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%. Research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

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.

See Also

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