UniSuper Management Pty Ltd Grows Position in PPG Industries, Inc. (NYSE:PPG)

UniSuper Management Pty Ltd raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 28.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,609 shares of the specialty chemicals company's stock after purchasing an additional 5,210 shares during the quarter. UniSuper Management Pty Ltd's holdings in PPG Industries were worth $2,820,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. PUREfi Wealth LLC purchased a new stake in PPG Industries in the fourth quarter worth $279,000. PFW Advisors LLC bought a new position in shares of PPG Industries in the 4th quarter worth approximately $868,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $4,050,000. Vanguard Group Inc. lifted its position in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $2,944,000. Institutional investors own 81.86% of the company's stock.

Insider Transactions 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 value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.33% of the company's stock.

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PPG Industries Trading Up 0.6 %

PPG Industries stock traded up $0.63 during mid-day trading on Wednesday, hitting $109.58. The company's stock had a trading volume of 2,822,884 shares, compared to its average volume of 1,736,901. The firm has a market capitalization of $24.87 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 1 year low of $105.64 and a 1 year high of $143.98. The stock's fifty day moving average is $114.86 and its two-hundred day moving average is $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.

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 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 anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Analyst Upgrades and Downgrades

PPG has been the topic of several analyst reports. Mizuho lowered their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Seaport Res Ptn lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Royal Bank of Canada cut their target price on 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. Argus downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Finally, Wells Fargo & Company cut their price objective on PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $138.15.

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.