Syon Capital LLC Purchases 183 Shares of PPG Industries, Inc. (NYSE:PPG)

Syon Capital LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,501 shares of the specialty chemicals company’s stock after acquiring an additional 183 shares during the period. Syon Capital LLC’s holdings in PPG Industries were worth $374,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. DAVENPORT & Co LLC raised its holdings in shares of PPG Industries by 5.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 5,316 shares of the specialty chemicals company’s stock valued at $690,000 after acquiring an additional 253 shares in the last quarter. Czech National Bank raised its stake in PPG Industries by 47.7% in the third quarter. Czech National Bank now owns 41,162 shares of the specialty chemicals company’s stock valued at $5,343,000 after purchasing an additional 13,290 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in PPG Industries by 0.5% during the third quarter. Asset Management One Co. Ltd. now owns 97,996 shares of the specialty chemicals company’s stock valued at $12,720,000 after purchasing an additional 493 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in PPG Industries by 12.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 71,209 shares of the specialty chemicals company’s stock worth $9,243,000 after buying an additional 7,886 shares in the last quarter. Finally, FAS Wealth Partners Inc. increased its holdings in shares of PPG Industries by 4.9% in the 3rd quarter. FAS Wealth Partners Inc. now owns 9,033 shares of the specialty chemicals company’s stock worth $1,172,000 after buying an additional 418 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $130.16 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.55. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a market cap of $30.52 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 1.62 and a beta of 1.28. The business has a 50 day moving average price of $139.31 and a 200-day moving average price of $138.92.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 EPS. Equities research analysts predict that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

PPG Industries declared that its board has initiated a share repurchase program on Thursday, April 18th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on PPG shares. Redburn Atlantic downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. UBS Group dropped their price target on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Evercore ISI lowered PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective on the stock. in a research report on Monday, April 22nd. Citigroup dropped their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Finally, Royal Bank of Canada cut their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $155.47.

Insider Activity at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by corporate insiders.

PPG Industries 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.