PPG Industries, Inc. (NYSE:PPG) Position Increased by Guggenheim Capital LLC

Guggenheim Capital LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 421,588 shares of the specialty chemicals company’s stock after purchasing an additional 5,239 shares during the quarter. Guggenheim Capital LLC owned 0.17% of PPG Industries worth $49,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TIAA FSB raised its holdings in shares of PPG Industries by 6.2% during the fourth quarter. TIAA FSB now owns 30,031 shares of the specialty chemicals company’s stock valued at $3,508,000 after acquiring an additional 1,744 shares during the period. Private Advisor Group LLC raised its holdings in shares of PPG Industries by 19.2% during the third quarter. Private Advisor Group LLC now owns 16,278 shares of the specialty chemicals company’s stock valued at $1,827,000 after acquiring an additional 2,626 shares during the period. Norinchukin Bank The raised its holdings in shares of PPG Industries by 7.4% during the third quarter. Norinchukin Bank The now owns 19,089 shares of the specialty chemicals company’s stock valued at $2,074,000 after acquiring an additional 1,310 shares during the period. Bessemer Group Inc. raised its holdings in shares of PPG Industries by 90.8% during the third quarter. Bessemer Group Inc. now owns 3,107 shares of the specialty chemicals company’s stock valued at $337,000 after acquiring an additional 1,479 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of PPG Industries by 1.2% during the fourth quarter. BlackRock Inc. now owns 14,943,714 shares of the specialty chemicals company’s stock valued at $1,745,724,000 after acquiring an additional 175,593 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

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PPG stock traded down $2.28 during trading hours on Friday, hitting $109.39. The company’s stock had a trading volume of 1,677,839 shares, compared to its average volume of 1,372,235. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $27,334.48, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.90 and a beta of 1.56. PPG Industries, Inc. has a 12 month low of $100.45 and a 12 month high of $122.07.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.19 earnings per share. research analysts expect that PPG Industries, Inc. will post 6.54 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio is 30.66%.

PPG Industries announced that its board has approved a stock buyback program on Thursday, December 14th that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently issued reports on PPG shares. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada restated a “hold” rating and set a $115.00 price target on shares of PPG Industries in a report on Wednesday, January 17th. Raymond James Financial initiated coverage on shares of PPG Industries in a report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 price target on the stock. BMO Capital Markets initiated coverage on shares of PPG Industries in a research report on Tuesday, March 27th. They set a “market perform” rating and a $123.00 price objective on the stock. Finally, ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $125.00.

In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the sale, the vice president now directly owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

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About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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