Nippon Life Insurance Co. raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.0% during the third quarter, Holdings Channel reports. The firm owned 18,918 shares of the company’s stock after buying an additional 900 shares during the period. Nippon Life Insurance Co.’s holdings in PPG Industries were worth $1,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. Pitcairn Co. boosted its position in shares of PPG Industries by 23.9% in the second quarter. Pitcairn Co. now owns 13,993 shares of the company’s stock worth $1,457,000 after buying an additional 2,698 shares during the period. E&G Advisors LP acquired a new position in shares of PPG Industries during the second quarter worth $229,000. Bank of Montreal Can acquired a new position in shares of PPG Industries during the second quarter worth $61,750,000. MSI Financial Services Inc boosted its position in shares of PPG Industries by 2.0% in the second quarter. MSI Financial Services Inc now owns 10,952 shares of the company’s stock worth $1,140,000 after buying an additional 210 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of PPG Industries by 36.0% in the second quarter. Shell Asset Management Co. now owns 18,931 shares of the company’s stock worth $1,972,000 after buying an additional 5,010 shares during the period. 71.17% of the stock is currently owned by hedge funds and other institutional investors.

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

PPG Industries, Inc. (NYSE:PPG) traded down 0.57% during trading on Friday, reaching $96.32. 1,217,441 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $96.37 and its 200-day moving average price is $100.03. The company has a market capitalization of $25.43 billion, a price-to-earnings ratio of 30.60 and a beta of 1.39. PPG Industries, Inc. has a 52-week low of $88.37 and a 52-week high of $117.00.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 20th. The company reported $1.56 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.56. The firm earned $3.80 billion during the quarter, compared to analysts’ expectations of $3.83 billion. PPG Industries had a return on equity of 30.59% and a net margin of 5.56%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. Equities analysts expect that PPG Industries, Inc. will post $5.90 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Nippon Life Insurance Co. Acquires 900 Shares of PPG Industries, Inc. (PPG)” was first posted by Daily Political and is owned by of Daily Political. If you are reading this article on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be viewed at http://www.dailypolitical.com/2017/01/13/nippon-life-insurance-co-acquires-900-shares-of-ppg-industries-inc-ppg.html.

A number of brokerages have weighed in on PPG. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Jefferies Group reiterated a “buy” rating and set a $129.00 price objective on shares of PPG Industries in a research note on Wednesday, October 5th. Royal Bank Of Canada lowered shares of PPG Industries from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $101.00 in a research note on Tuesday, December 13th. RBC Capital Markets lowered shares of PPG Industries from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $105.00 to $101.00 in a research note on Tuesday, December 13th. They noted that the move was a valuation call. Finally, TheStreet lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $112.92.

About PPG Industries

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

5 Day Chart for NYSE:PPG

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG).

Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.