3,426 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,426 shares of the specialty chemicals company’s stock, valued at approximately $409,000.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its position in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its position in PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares in the last quarter. FMR LLC raised its stake in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares in the last quarter. International Assets Investment Management LLC grew its position in PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of PPG Industries by 65.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock valued at $62,474,000 after buying an additional 206,853 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 1.1 %

PPG opened at $124.12 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a one year low of $113.00 and a one year high of $145.60. The business’s 50-day simple moving average is $121.17 and its 200-day simple moving average is $124.68. The stock has a market capitalization of $28.80 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.23.

Insider Activity

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

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.