Y Intercept Hong Kong Ltd Buys 7,629 Shares of PPG Industries, Inc. (NYSE:PPG)

Y Intercept Hong Kong Ltd increased its stake in PPG Industries, Inc. (NYSE:PPG) by 39.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,127 shares of the specialty chemicals company’s stock after buying an additional 7,629 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in PPG Industries were worth $3,593,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Financial Connections Group Inc. purchased a new stake in PPG Industries in the 2nd quarter worth about $25,000. Pin Oak Investment Advisors Inc. boosted its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in PPG Industries in the 3rd quarter valued at $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the 2nd quarter valued at $37,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries during the third quarter worth $40,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PPG. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Up 0.1 %

Shares of PPG Industries stock opened at $125.57 on Monday. 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 company has a market cap of $29.13 billion, a P/E ratio of 19.90, a PEG ratio of 1.92 and a beta of 1.24. The firm’s 50 day moving average price is $126.20 and its 200-day moving average price is $126.71. 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 (EPS) 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 firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period in the prior year, the firm posted $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

About PPG Industries

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.