PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 12.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,102 shares of the specialty chemicals company’s stock after acquiring an additional 469 shares during the period. Blue Trust Inc.’s holdings in PPG Industries were worth $543,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its position in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after purchasing an additional 491,774 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.7% during the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after buying an additional 485,597 shares during the last quarter. FMR LLC increased its position in shares of PPG Industries by 68.3% in the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after acquiring an additional 354,740 shares during the period. International Assets Investment Management LLC raised its stake in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in PPG Industries by 65.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 523,014 shares of the specialty chemicals company’s stock worth $62,474,000 after acquiring an additional 206,853 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.3 %

Shares of PPG opened at $122.79 on Friday. PPG Industries, Inc. has a 12 month low of $113.00 and a 12 month high of $145.60. The firm has a market cap of $28.49 billion, a P/E ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $121.25 and its two-hundred day moving average is $124.58.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 return on equity of 23.63% and a net margin of 8.24%. Analysts predict that PPG Industries, Inc. will post 8.15 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio is presently 43.11%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. 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 note on Monday, October 21st. Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of 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. Finally, Citigroup cut their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.23.

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.