Kentucky Retirement Systems Insurance Trust Fund Buys New Holdings in PPG Industries, Inc. (PPG)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,745 shares of the specialty chemicals company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Putnam FL Investment Management Co. purchased a new position in PPG Industries in the fourth quarter valued at about $213,000. CWM Advisors LLC raised its position in PPG Industries by 6.4% in the fourth quarter. CWM Advisors LLC now owns 2,729 shares of the specialty chemicals company’s stock valued at $279,000 after purchasing an additional 164 shares during the period. Advisory Services Network LLC raised its position in PPG Industries by 7.2% in the fourth quarter. Advisory Services Network LLC now owns 10,820 shares of the specialty chemicals company’s stock valued at $1,106,000 after purchasing an additional 730 shares during the period. Public Employees Retirement System of Ohio raised its position in PPG Industries by 7.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 169,791 shares of the specialty chemicals company’s stock valued at $17,358,000 after purchasing an additional 11,391 shares during the period. Finally, Clarfeld Financial Advisors LLC purchased a new position in PPG Industries in the fourth quarter valued at about $231,000. 79.73% of the stock is owned by hedge funds and other institutional investors.

PPG has been the topic of several research reports. SunTrust Banks raised their price objective on PPG Industries to $110.00 and gave the company a “hold” rating in a research report on Tuesday, January 22nd. Credit Suisse Group dropped their target price on PPG Industries to $112.00 and set a “neutral” rating on the stock in a research report on Friday, January 18th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Thursday, March 28th. BMO Capital Markets set a $112.00 target price on PPG Industries and gave the stock a “hold” rating in a research report on Wednesday, January 23rd. Finally, JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $105.00 to $106.00 in a research report on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $116.40.

NYSE:PPG traded up $2.47 during mid-day trading on Friday, reaching $119.86. The stock had a trading volume of 3,742,061 shares, compared to its average volume of 1,426,813. The company has a market capitalization of $28.30 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.96 and a current ratio of 1.40.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.69 billion. PPG Industries had a return on equity of 28.84% and a net margin of 8.67%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.39 earnings per share. On average, equities research analysts forecast that PPG Industries, Inc. will post 6.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a yield of 1.60%. PPG Industries’s dividend payout ratio (DPR) is 32.43%.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

See Also: Balance Sheet

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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