Nippon Life Global Investors Americas Inc. Takes Position in PPG Industries, Inc. (NYSE:PPG)

Nippon Life Global Investors Americas Inc. purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,360 shares of the specialty chemicals company’s stock, valued at approximately $2,476,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stock Yards Bank & Trust Co. raised its position in shares of PPG Industries by 441.6% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 14,803 shares of the specialty chemicals company’s stock valued at $2,553,000 after purchasing an additional 12,070 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of PPG Industries by 14.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,092 shares of the specialty chemicals company’s stock valued at $878,000 after purchasing an additional 629 shares during the period. Ledyard National Bank bought a new stake in shares of PPG Industries during the 4th quarter valued at $232,000. First National Trust Co raised its position in shares of PPG Industries by 81.2% during the 4th quarter. First National Trust Co now owns 26,161 shares of the specialty chemicals company’s stock valued at $4,511,000 after purchasing an additional 11,727 shares during the period. Finally, Canandaigua National Corp raised its position in shares of PPG Industries by 53.6% during the 4th quarter. Canandaigua National Corp now owns 7,170 shares of the specialty chemicals company’s stock valued at $1,236,000 after purchasing an additional 2,502 shares during the period. 79.12% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Rebecca B. Liebert sold 30,086 shares of the stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $129.90, for a total transaction of $3,908,171.40. Following the sale, the executive vice president now directly owns 24,693 shares of the company’s stock, valued at $3,207,620.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

A number of brokerages have issued reports on PPG. Seaport Res Ptn reiterated a “neutral” rating on shares of PPG Industries in a report on Monday, January 24th. Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating and set a $138.00 target price on the stock. in a report on Friday, April 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PPG Industries from $180.00 to $155.00 in a report on Monday, April 25th. Berenberg Bank downgraded shares of PPG Industries from a “buy” rating to a “hold” rating and reduced their target price for the stock from $180.00 to $140.00 in a report on Friday. Finally, Royal Bank of Canada reduced their target price on shares of PPG Industries from $174.00 to $169.00 in a report on Tuesday, January 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $165.70.

Shares of NYSE PPG traded down $2.99 during trading hours on Friday, hitting $119.68. 1,790,230 shares of the stock were exchanged, compared to its average volume of 1,612,644. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08. The company has a market cap of $28.27 billion, a PE ratio of 26.54, a PEG ratio of 1.43 and a beta of 1.15. The firm has a fifty day moving average price of $129.09 and a 200-day moving average price of $146.61. PPG Industries, Inc. has a 12 month low of $111.32 and a 12 month high of $182.97.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.25. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. PPG Industries’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, May 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.97%. PPG Industries’s payout ratio is currently 52.33%.

About PPG Industries (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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

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