Compagnie Lombard Odier SCmA lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 17.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,192 shares of the specialty chemicals company’s stock after buying an additional 9,890 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in PPG Industries were worth $7,733,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PPG. G&S Capital LLC acquired a new position in PPG Industries in the 4th quarter valued at about $110,000. Cerebellum GP LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $128,000. SeaCrest Wealth Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $132,000. Crewe Advisors LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $136,000. Finally, NuWave Investment Management LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $150,000. 76.82% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:PPG traded up $0.76 during trading on Thursday, hitting $110.04. 1,890,488 shares of the stock were exchanged, compared to its average volume of 1,564,723. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $27,576.82, a PE ratio of 18.75, a PEG ratio of 1.92 and a beta of 1.56. PPG Industries, Inc. has a 1-year low of $100.45 and a 1-year high of $122.07.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the company earned $1.19 EPS. PPG Industries’s revenue was up 7.8% on a year-over-year basis. sell-side analysts predict that PPG Industries, Inc. will post 6.54 EPS for the current year.
PPG Industries announced that its Board of Directors has approved a share repurchase program on Thursday, December 14th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, VP Jean-Marie Greindl sold 9,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now owns 27,685 shares in the company, valued at $3,205,646.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.33% of the company’s stock.
A number of equities analysts have weighed in on PPG shares. Northcoast Research restated a “buy” rating and issued a $128.00 price target on shares of PPG Industries in a report on Friday, January 19th. JPMorgan Chase reiterated a “neutral” rating and set a $120.00 target price on shares of PPG Industries in a research note on Friday, January 19th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Jefferies Group reissued a “buy” rating and set a $135.00 price target on shares of PPG Industries in a research report on Wednesday, January 3rd. Finally, Citigroup dropped their target price on PPG Industries from $128.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $125.00.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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