Aigen Investment Management LP Makes New $211,000 Investment in PPG Industries, Inc. (NYSE:PPG)

Aigen Investment Management LP bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,590 shares of the specialty chemicals company’s stock, valued at approximately $211,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Connections Group Inc. purchased a new position in PPG Industries during the 2nd quarter valued at about $25,000. Capital Performance Advisors LLP bought a new stake in shares of PPG Industries in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries in the 2nd quarter worth approximately $37,000. Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries during the third quarter valued at $46,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by insiders.

PPG Industries Price Performance

NYSE PPG opened at $122.53 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $28.43 billion, a P/E ratio of 19.42, a PEG ratio of 1.89 and a beta of 1.26. The company has a 50-day moving average price of $127.37 and a 200-day moving average price of $127.81. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the business posted $2.07 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Equities research analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PPG shares. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Bank of America cut their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Barclays lowered their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Company Profile

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.