Nomura Asset Management Co. Ltd. Grows Position in PPG Industries, Inc. (NYSE:PPG)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. 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. owned approximately 0.16% of PPG Industries worth $45,117,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PPG. Barclays restated an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. UBS Group lowered their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group reduced 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. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reduced their price target on shares of PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of "Hold" and a consensus target price of $138.15.

Remove Ads

PPG Industries Price Performance

Shares of NYSE:PPG traded down $0.34 on Wednesday, hitting $108.61. The company had a trading volume of 1,922,085 shares, compared to its average volume of 2,198,763. 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 $24.65 billion, a PE ratio of 22.96, a PEG ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 52-week low of $105.64 and a 52-week high of $143.98. The business has a 50 day moving average of $114.86 and a 200 day moving average of $120.92.

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

PPG Industries Dividend Announcement

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

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

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.