Fullerton Fund Management Co Ltd. Purchases New Position in PPG Industries, Inc. (NYSE:PPG)

Fullerton Fund Management Co Ltd. purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,308 shares of the specialty chemicals company’s stock, valued at approximately $634,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ellevest Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $427,000. Ensign Peak Advisors Inc raised its holdings in PPG Industries by 6.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 78,991 shares of the specialty chemicals company’s stock worth $9,435,000 after purchasing an additional 5,036 shares in the last quarter. Deutsche Bank AG raised its holdings in PPG Industries by 27.2% in the 4th quarter. Deutsche Bank AG now owns 1,009,056 shares of the specialty chemicals company’s stock worth $120,532,000 after purchasing an additional 215,866 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of PPG Industries by 106.8% in the 4th quarter. Colonial Trust Co SC now owns 544 shares of the specialty chemicals company’s stock worth $65,000 after purchasing an additional 281 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of PPG Industries by 11.0% during the 4th quarter. Captrust Financial Advisors now owns 20,885 shares of the specialty chemicals company’s stock valued at $2,495,000 after purchasing an additional 2,072 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Citigroup dropped their price target on PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Bank of America restated a “neutral” rating and set a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $128.83.

PPG Industries Trading Up 0.7 %

NYSE:PPG opened at $109.32 on Friday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The stock has a market cap of $24.82 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 2.19 and a beta of 1.20. The company’s 50 day moving average price is $106.58 and its 200-day moving average price is $115.67. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s dividend payout ratio is currently 58.24%.

Insider Activity

In related 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 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.33% of the company’s stock.

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.