Nuveen Asset Management LLC Has $83.54 Million Position in PPG Industries, Inc. (NYSE:PPG)

Nuveen Asset Management LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 699,360 shares of the specialty chemicals company’s stock after selling 85,639 shares during the period. Nuveen Asset Management LLC’s holdings in PPG Industries were worth $83,539,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PPG. Occudo Quantitative Strategies LP boosted its holdings in shares of PPG Industries by 155.9% in the fourth quarter. Occudo Quantitative Strategies LP now owns 12,591 shares of the specialty chemicals company’s stock valued at $1,504,000 after buying an additional 7,671 shares during the period. OMERS ADMINISTRATION Corp boosted its holdings in shares of PPG Industries by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,830 shares of the specialty chemicals company’s stock valued at $1,174,000 after buying an additional 1,652 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PPG Industries by 17.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,879 shares of the specialty chemicals company’s stock valued at $3,330,000 after buying an additional 4,240 shares during the period. MJP Associates Inc. ADV acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $514,000. Finally, LRI Investments LLC boosted its holdings in shares of PPG Industries by 25.3% in the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock valued at $54,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $113.99 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average price is $106.44 and its two-hundred day moving average price is $115.13. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm has a market capitalization of $25.88 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20.

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

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPG. Deutsche Bank Aktiengesellschaft upped their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. Citigroup cut their price objective on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their price objective on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $128.42.

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.