GSA Capital Partners LLP Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

GSA Capital Partners LLP boosted its position in PPG Industries, Inc. (NYSE:PPG) by 41.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,309 shares of the specialty chemicals company’s stock after acquiring an additional 1,568 shares during the period. GSA Capital Partners LLP’s holdings in PPG Industries were worth $703,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at PPG Industries

In other PPG Industries 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 transaction of $249,713.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

PPG stock opened at $122.53 on Monday. The stock has a market capitalization of $28.43 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. The stock’s 50 day simple moving average is $127.37 and its 200 day simple moving average is $127.78. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

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

Wall Street Analyst Weigh In

PPG has been the topic of several recent analyst reports. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Bank of America reduced their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target 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.