82,634 Shares in PPG Industries, Inc. (NYSE:PPG) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,634 shares of the specialty chemicals company's stock, valued at approximately $9,892,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westpac Banking Corp grew its holdings in PPG Industries by 1.8% in the 4th quarter. Westpac Banking Corp now owns 31,130 shares of the specialty chemicals company's stock valued at $3,718,000 after buying an additional 558 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares during the period. Tradewinds LLC. acquired a new stake in shares of PPG Industries in the fourth quarter worth $392,000. National Bank of Canada FI raised its stake in PPG Industries by 141.2% during the 4th quarter. National Bank of Canada FI now owns 288,611 shares of the specialty chemicals company's stock valued at $34,477,000 after purchasing an additional 168,937 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in PPG Industries by 7.0% in the 4th quarter. Franklin Resources Inc. now owns 3,356,722 shares of the specialty chemicals company's stock valued at $400,960,000 after purchasing an additional 220,152 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the topic of several research reports. Wells Fargo & Company lowered their price target on PPG Industries from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday. StockNews.com cut PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Citigroup reduced their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday. Royal Bank of Canada lowered 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 report on Tuesday, February 4th. Finally, UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $134.15.

PPG Industries Trading Up 0.5 %

PPG Industries stock traded up $0.47 during trading hours on Friday, reaching $99.00. 636,890 shares of the company's stock traded hands, compared to its average volume of 1,796,264. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $139.01. The firm's 50 day moving average is $111.04 and its 200-day moving average is $119.28.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders 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 2.75%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction on 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 owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company's stock.

About PPG Industries

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.