Fairview Capital Investment Management LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,740 shares of the specialty chemicals company’s stock, valued at approximately $203,000.
Other hedge funds have also bought and sold shares of the company. Verity & Verity LLC increased its holdings in PPG Industries by 0.9% during the 3rd quarter. Verity & Verity LLC now owns 60,816 shares of the specialty chemicals company’s stock worth $6,609,000 after purchasing an additional 534 shares during the last quarter. TIAA FSB grew its stake in PPG Industries by 6.2% in the fourth quarter. TIAA FSB now owns 30,031 shares of the specialty chemicals company’s stock valued at $3,508,000 after purchasing an additional 1,744 shares in the last quarter. Private Advisor Group LLC grew its stake in PPG Industries by 19.2% in 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 purchasing an additional 2,626 shares in the last quarter. Norinchukin Bank The grew its stake in PPG Industries by 7.4% in the third quarter. Norinchukin Bank The now owns 19,089 shares of the specialty chemicals company’s stock valued at $2,074,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in PPG Industries by 90.8% in the third quarter. Bessemer Group Inc. now owns 3,107 shares of the specialty chemicals company’s stock valued at $337,000 after purchasing an additional 1,479 shares in the last quarter. Institutional investors own 73.53% of the company’s stock.
In other news, VP Jean-Marie Greindl sold 9,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now owns 27,685 shares in the company, valued at approximately $3,205,646.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE:PPG) opened at $112.44 on Thursday. The stock has a market capitalization of $28,813.73, a PE ratio of 17.82, a PEG ratio of 2.01 and a beta of 1.58. PPG Industries, Inc. has a 52 week low of $100.34 and a 52 week high of $122.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.66.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the 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 return on equity of 26.76% and a net margin of 10.98%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. research analysts expect that PPG Industries, Inc. will post 6.57 earnings per share for the current year.
PPG Industries announced that its Board of Directors has authorized a stock repurchase plan on Thursday, December 14th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.60%. PPG Industries’s dividend payout ratio (DPR) is presently 28.53%.
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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.
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