2,460 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by AIA Group Ltd

AIA Group Ltd acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the fourth quarter, Holdings Channel reports. The fund acquired 2,460 shares of the specialty chemicals company’s stock, valued at approximately $368,000.

A number of other large investors also recently bought and sold shares of PPG. OFI Invest Asset Management bought a new position in PPG Industries in the third quarter worth approximately $25,000. Valued Wealth Advisors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $26,000. SJS Investment Consulting Inc. increased its position in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 153 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of PPG Industries during the fourth quarter worth $28,000. Finally, Harbour Investments Inc. increased its position in shares of PPG Industries by 84.9% during the first quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 3.1 %

Shares of PPG opened at $130.92 on Friday. 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 stock’s 50 day moving average is $140.36 and its two-hundred day moving average is $138.88. The firm has a market cap of $30.81 billion, a P/E ratio of 22.11, a PEG ratio of 1.61 and a beta of 1.28.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $1.82 earnings per share. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is currently 43.92%.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent analyst reports. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $163.00 to $149.00 in a research report on Tuesday, February 27th. KeyCorp lowered their price target 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. Redburn Atlantic cut PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Wells Fargo & Company upgraded PPG Industries from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Finally, Citigroup reduced their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $158.00.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.