Tidal Investments LLC Has $1.76 Million Position in PPG Industries, Inc. (NYSE:PPG)

Tidal Investments LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,306 shares of the specialty chemicals company’s stock after purchasing an additional 162 shares during the period. Tidal Investments LLC’s holdings in PPG Industries were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PPG. Financial Connections Group Inc. acquired a new stake in PPG Industries during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in PPG Industries during the 3rd quarter worth $34,000. Rothschild Investment LLC bought a new position in PPG Industries during the 2nd quarter worth $37,000. Finally, Hara Capital LLC bought a new position in PPG Industries during the 3rd quarter worth $40,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $249,713.00. Following the transaction, the vice president now directly 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 the SEC website. 0.56% of the stock is owned by company insiders.

PPG Industries Stock Down 0.5 %

Shares of PPG opened at $122.06 on Wednesday. The company has a market capitalization of $28.32 billion, a PE ratio of 19.34, a PEG ratio of 1.90 and a beta of 1.24. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $150.82. The stock’s 50-day moving average price is $125.43 and its two-hundred day moving average price is $126.41. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 earnings per share. On average, analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 12th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.93.

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.