Nomura Asset Management Co. Ltd. Purchases 25,767 Shares of PPG Industries, Inc. (NYSE:PPG)

Nomura Asset Management Co. Ltd. lifted its position in PPG Industries, Inc. (NYSE:PPG) by 7.3% during the 4th quarter, HoldingsChannel reports. The firm owned 377,705 shares of the specialty chemicals company’s stock after buying an additional 25,767 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PPG Industries were worth $45,117,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries during the fourth quarter worth about $27,000. Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter valued at about $38,000. Crews Bank & Trust purchased a new position in shares of PPG Industries during the fourth quarter worth about $42,000. Sugar Maple Asset Management LLC bought a new position in shares of PPG Industries in the fourth quarter worth approximately $44,000. Finally, Millstone Evans Group LLC purchased a new stake in PPG Industries in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of a number of research analyst reports. StockNews.com lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Royal Bank of Canada reduced their price objective on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $138.15.

Insider Transactions at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Stock Down 1.0 %

Shares of NYSE:PPG opened at $107.32 on Friday. The stock’s 50-day moving average is $115.37 and its 200 day moving average is $121.23. The company has a market cap of $24.36 billion, a PE ratio of 22.69, a P/E/G ratio of 2.19 and a beta of 1.22. 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, Inc. has a 1 year low of $105.64 and a 1 year high of $145.61.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.53%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

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.