Mitsubishi UFJ Asset Management Co. Ltd. Grows Holdings in PPG Industries, Inc. (NYSE:PPG)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,305 shares of the specialty chemicals company's stock after acquiring an additional 34,480 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of PPG Industries worth $51,023,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PPG. Mutual Advisors LLC grew its holdings in shares of PPG Industries by 3.6% during the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after buying an additional 92 shares in the last quarter. Groupama Asset Managment grew its stake in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock worth $1,027,000 after acquiring an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 95 shares during the period. Kingsview Wealth Management LLC raised its holdings in PPG Industries by 1.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after acquiring an additional 103 shares during the last quarter. Finally, Sachetta LLC lifted its stake in shares of PPG Industries by 18.4% during the 4th quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock worth $81,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on PPG shares. UBS Group lowered their price objective on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Mizuho cut their price objective on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Finally, Royal Bank of Canada cut their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $138.15.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the company'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 transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

PPG Industries Stock Down 0.0 %

Shares of PPG traded down $0.02 during midday trading on Wednesday, reaching $108.93. 1,609,989 shares of the company were exchanged, compared to its average volume of 2,192,677. PPG Industries, Inc. has a 1-year low of $105.64 and a 1-year high of $143.98. The stock has a 50-day moving average price of $114.86 and a 200-day moving average price of $120.92. 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 company has a market cap of $24.72 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 2.19 and a beta of 1.22.

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

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's payout ratio is 57.51%.

PPG Industries Company 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.