Royal London Asset Management Ltd. Acquires 553 Shares of PPG Industries, Inc. (NYSE:PPG)

Royal London Asset Management Ltd. increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,295 shares of the specialty chemicals company’s stock after buying an additional 553 shares during the quarter. Royal London Asset Management Ltd.’s holdings in PPG Industries were worth $12,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PPG. Insight Folios Inc raised its position in PPG Industries by 3.8% in the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the last quarter. Klingman & Associates LLC raised its position in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares during the last quarter. SeaCrest Wealth Management LLC raised its position in PPG Industries by 2.6% in the second quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its position in PPG Industries by 1.7% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock valued at $669,000 after purchasing an additional 90 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 0.1 %

NYSE PPG opened at $125.57 on Friday. The business has a 50 day simple moving average of $126.20 and a 200 day simple moving average of $126.77. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The stock has a market capitalization of $29.13 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business earned $2.07 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PPG. StockNews.com downgraded PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.