Legal & General Group Plc decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,499,297 shares of the specialty chemicals company’s stock after selling 88,661 shares during the quarter. Legal & General Group Plc’s holdings in PPG Industries were worth $153,618,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in PPG. Brighton Jones LLC lifted its position in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after buying an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after buying an additional 920 shares in the last quarter. Empowered Funds LLC lifted its position in PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP lifted its position in PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after buying an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its position in PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after buying an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
PPG Industries Price Performance
NYSE:PPG opened at $113.01 on Thursday. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $25.19 billion, a P/E ratio of 16.12, a P/E/G ratio of 1.60 and a beta of 1.06. The stock’s fifty day moving average is $106.93 and its two-hundred day moving average is $108.34.
PPG Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries’s payout ratio is presently 40.51%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Jefferies Financial Group reduced their price objective on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. BNP Paribas Exane lifted their price objective on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Citigroup lifted their target price on PPG Industries from $113.00 to $114.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, UBS Group lifted their target price on PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $121.79.
View Our Latest Report on PPG Industries
PPG Industries Profile
PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.
PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.
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