D. E. Shaw & Co. Inc. Invests $201,000 in PPG Industries, Inc. (PPG) Stock

D. E. Shaw & Co. Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,968 shares of the specialty chemicals company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently modified their holdings of PPG. Oregon Public Employees Retirement Fund raised its position in shares of PPG Industries by 10,003.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 2,782,589 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PPG Industries by 2.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock worth $2,468,246,000 after acquiring an additional 643,315 shares during the last quarter. Morgan Stanley raised its position in shares of PPG Industries by 43.6% during the third quarter. Morgan Stanley now owns 1,239,867 shares of the specialty chemicals company’s stock worth $135,306,000 after acquiring an additional 376,348 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of PPG Industries by 53.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 476,492 shares of the specialty chemicals company’s stock worth $48,712,000 after acquiring an additional 165,400 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of PPG Industries by 1.1% during the fourth quarter. BlackRock Inc. now owns 14,628,186 shares of the specialty chemicals company’s stock worth $1,495,440,000 after acquiring an additional 157,955 shares during the last quarter. Institutional investors own 79.63% of the company’s stock.

PPG Industries stock traded down $0.64 during mid-day trading on Friday, reaching $112.24. The stock had a trading volume of 1,264,412 shares, compared to its average volume of 1,260,085. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.97 and a current ratio of 1.40. PPG Industries, Inc. has a fifty-two week low of $94.37 and a fifty-two week high of $121.29. The stock has a market capitalization of $26.89 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.05 and a beta of 1.19.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.17. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted $1.39 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. Research analysts forecast that PPG Industries, Inc. will post 6.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be paid a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a yield of 1.71%. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

A number of brokerages have recently issued reports on PPG. JPMorgan Chase & Co. downgraded PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price objective for the company. in a research report on Friday, March 22nd. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Credit Suisse Group reiterated a “hold” rating and issued a $115.00 target price on shares of PPG Industries in a report on Thursday, January 17th. Barclays lifted their target price on PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, KeyCorp lifted their target price on PPG Industries from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $118.10.

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PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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