PPG Industries, Inc. (PPG) Shares Bought by Marshall Wace North America L.P.

Marshall Wace North America L.P. increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,204 shares of the specialty chemicals company’s stock after purchasing an additional 10,337 shares during the quarter. Marshall Wace North America L.P. owned approximately 0.06% of PPG Industries worth $14,427,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PPG. Massachusetts Financial Services Co. MA boosted its stake in PPG Industries by 6.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,500,737 shares of the specialty chemicals company’s stock valued at $2,564,635,000 after buying an additional 1,387,824 shares during the last quarter. Parnassus Investments CA boosted its stake in PPG Industries by 68.1% during the second quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock valued at $441,520,000 after buying an additional 1,724,631 shares during the last quarter. Wells Fargo & Company MN boosted its stake in PPG Industries by 3.5% during the third quarter. Wells Fargo & Company MN now owns 3,498,867 shares of the specialty chemicals company’s stock valued at $381,831,000 after buying an additional 119,509 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new position in PPG Industries during the second quarter valued at approximately $327,975,000. Finally, Bank of America Corp DE boosted its stake in PPG Industries by 15.2% during the second quarter. Bank of America Corp DE now owns 3,051,444 shares of the specialty chemicals company’s stock valued at $316,527,000 after buying an additional 401,643 shares during the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

NYSE:PPG opened at $103.23 on Friday. The company has a market capitalization of $25.38 billion, a PE ratio of 17.59, a P/E/G ratio of 2.19 and a beta of 1.38. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $122.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.71 and a quick ratio of 1.22.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.45. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. Research analysts expect that PPG Industries, Inc. will post 5.81 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, November 8th. PPG Industries’s dividend payout ratio is currently 32.71%.

A number of brokerages recently commented on PPG. Vertical Research lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 19th. Citigroup raised PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price target for the company in a research note on Thursday, November 29th. Deutsche Bank increased their price target on PPG Industries from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 1st. Finally, Longbow Research initiated coverage on PPG Industries in a research note on Friday, November 30th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. PPG Industries has a consensus rating of “Hold” and a consensus target price of $119.00.

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PPG Industries Company 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.

Further Reading: What is a Swap?

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

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