Alpha DNA Investment Management LLC Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Alpha DNA Investment Management LLC raised its position in PPG Industries, Inc. (NYSE:PPG) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,344 shares of the specialty chemicals company’s stock after buying an additional 92 shares during the period. Alpha DNA Investment Management LLC’s holdings in PPG Industries were worth $1,105,000 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 the company. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries in the second quarter valued at approximately $37,000. Hara Capital LLC purchased a new stake in shares of PPG Industries in the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries 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 directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $122.65 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $28.45 billion, a PE ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. The stock has a fifty day moving average price of $127.00 and a 200 day moving average price of $127.44. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $2.07 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

About PPG Industries

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.