Securian Asset Management Inc. Has $1.34 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Securian Asset Management Inc. reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,268 shares of the specialty chemicals company’s stock after selling 200 shares during the quarter. Securian Asset Management Inc.’s holdings in PPG Industries were worth $1,342,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. MQS Management LLC acquired a new position in shares of PPG Industries during the 1st quarter worth about $550,000. New York State Common Retirement Fund grew its position in shares of PPG Industries by 4.1% during the 1st quarter. New York State Common Retirement Fund now owns 187,395 shares of the specialty chemicals company’s stock worth $20,492,000 after buying an additional 7,355 shares during the period. Cromwell Holdings LLC grew its position in shares of PPG Industries by 88.0% during the 1st quarter. Cromwell Holdings LLC now owns 393 shares of the specialty chemicals company’s stock worth $43,000 after buying an additional 184 shares during the period. Xponance Inc. grew its position in shares of PPG Industries by 2.0% during the 1st quarter. Xponance Inc. now owns 32,904 shares of the specialty chemicals company’s stock worth $3,598,000 after buying an additional 659 shares during the period. Finally, MJP Associates Inc. ADV grew its position in shares of PPG Industries by 32.9% during the 1st quarter. MJP Associates Inc. ADV now owns 5,720 shares of the specialty chemicals company’s stock worth $625,000 after buying an additional 1,417 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. Bank of America restated a “neutral” rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their price objective on PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, UBS Group lifted their price objective on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $131.42.

PPG Industries Trading Down 1.8%

NYSE PPG opened at $114.31 on Wednesday. The stock has a market capitalization of $25.95 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 2.44 and a beta of 1.16. The stock’s 50 day moving average price is $112.74 and its two-hundred day moving average price is $112.07. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, 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 Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.38%. The ex-dividend date was Monday, May 12th. PPG Industries’s payout ratio is 58.24%.

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.