Twin Tree Management LP Buys 38,154 Shares of PPG Industries, Inc. (NYSE:PPG)

Twin Tree Management LP increased its position in PPG Industries, Inc. (NYSE:PPG) by 131.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,183 shares of the specialty chemicals company’s stock after acquiring an additional 38,154 shares during the quarter. Twin Tree Management LP’s holdings in PPG Industries were worth $8,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Alpha DNA Investment Management LLC lifted its position in shares of PPG Industries by 1.1% in the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock valued at $1,105,000 after acquiring an additional 92 shares in the last quarter. Mutual Advisors LLC raised its stake in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after purchasing an additional 92 shares during the period. Groupama Asset Managment lifted its holdings in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after purchasing an additional 93 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after purchasing an additional 95 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in PPG Industries by 1.3% during the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after buying an additional 103 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $113.85 on Tuesday. The firm has a market capitalization of $25.84 billion, a PE ratio of 24.07, a PEG ratio of 2.19 and a beta of 1.22. The stock’s fifty day moving average is $116.33 and its 200 day moving average is $122.16. PPG Industries, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. 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 (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.39%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PPG. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company decreased their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Argus lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Royal Bank of Canada decreased their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and a consensus price target of $138.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

PPG Industries Company 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.