136,707 PPG Industries, Inc. $PPG Shares Purchased by Equity Investment Corp

Equity Investment Corp boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,262,708 shares of the specialty chemicals company’s stock after buying an additional 136,707 shares during the period. PPG Industries makes up approximately 1.8% of Equity Investment Corp’s portfolio, making the stock its 16th biggest position. Equity Investment Corp owned about 0.57% of PPG Industries worth $131,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Kestra Investment Management LLC acquired a new stake in shares of PPG Industries during the third quarter valued at about $265,000. AlphaCore Capital LLC lifted its holdings in shares of PPG Industries by 249.2% in the 3rd quarter. AlphaCore Capital LLC now owns 6,362 shares of the specialty chemicals company’s stock worth $664,000 after acquiring an additional 4,540 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in shares of PPG Industries by 112,890.0% during the 3rd quarter. Fulcrum Asset Management LLP now owns 22,598 shares of the specialty chemicals company’s stock worth $2,396,000 after purchasing an additional 22,578 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of PPG Industries by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 11,686 shares of the specialty chemicals company’s stock worth $1,223,000 after purchasing an additional 1,584 shares during the period. Finally, Avantax Planning Partners Inc. boosted its position in shares of PPG Industries by 4.8% during the 3rd quarter. Avantax Planning Partners Inc. now owns 7,357 shares of the specialty chemicals company’s stock worth $768,000 after purchasing an additional 335 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on PPG shares. Royal Bank Of Canada lifted their target price on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a report on Thursday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research note on Monday, September 14th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. KeyCorp lifted their price objective on PPG Industries from $128.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $128.29.

Insider Buying and Selling

In other PPG Industries news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total value of $317,850.00. Following the completion of the transaction, the vice president owned 9,761 shares in the company, valued at $1,241,013.54. The trade was a 20.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

PPG Industries Stock Down 0.7%

Shares of PPG opened at $124.41 on Wednesday. The company’s 50-day simple moving average is $110.25 and its 200-day simple moving average is $112.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The stock has a market capitalization of $27.48 billion, a PE ratio of 17.77, a P/E/G ratio of 2.16 and a beta of 1.00.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the previous year, the business posted $2.13 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that PPG Industries, Inc. will post 7.98 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 42.29%.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.