AIA Group Ltd Purchases New Position in PPG Industries, Inc. (NYSE:PPG)

AIA Group Ltd purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,460 shares of the specialty chemicals company’s stock, valued at approximately $368,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in PPG Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after purchasing an additional 252,358 shares during the period. Geode Capital Management LLC raised its position in shares of PPG Industries by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 4,854,892 shares of the specialty chemicals company’s stock worth $647,037,000 after acquiring an additional 106,294 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of PPG Industries by 163,082.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares in the last quarter. Invesco Ltd. raised its position in shares of PPG Industries by 41.1% in the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after acquiring an additional 959,849 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PPG Industries by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock worth $418,589,000 after acquiring an additional 65,996 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of several research reports. Citigroup decreased their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. UBS Group reduced their price objective on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday. Finally, KeyCorp reduced their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $158.00.

PPG Industries Stock Performance

Shares of PPG opened at $130.92 on Friday. The business’s fifty day simple moving average is $140.36 and its two-hundred day simple moving average is $138.88. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a market cap of $30.81 billion, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.82 EPS. Research analysts anticipate that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

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.