Royal London Asset Management Ltd. Grows Position in PPG Industries, Inc. (NYSE:PPG)

Royal London Asset Management Ltd. boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 95,913 shares of the specialty chemicals company’s stock after purchasing an additional 1,687 shares during the period. Royal London Asset Management Ltd.’s holdings in PPG Industries were worth $11,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of PPG Industries in the fourth quarter valued at about $36,143,000. PGGM Investments lifted its position in shares of PPG Industries by 81.3% in the second quarter. PGGM Investments now owns 447,236 shares of the specialty chemicals company’s stock valued at $52,197,000 after acquiring an additional 200,581 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of PPG Industries by 155.0% in the second quarter. Retirement Systems of Alabama now owns 280,106 shares of the specialty chemicals company’s stock valued at $32,691,000 after acquiring an additional 170,261 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of PPG Industries by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 2,839,765 shares of the specialty chemicals company’s stock valued at $289,748,000 after acquiring an additional 153,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of PPG Industries by 13.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,556 shares of the specialty chemicals company’s stock valued at $114,450,000 after acquiring an additional 130,127 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Shares of PPG stock traded down $1.54 during trading hours on Wednesday, hitting $111.55. The stock had a trading volume of 17,848 shares, compared to its average volume of 1,275,928. PPG Industries, Inc. has a one year low of $94.37 and a one year high of $121.29. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $116.49. The stock has a market capitalization of $27.25 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.22.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.02. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the firm posted $1.90 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts forecast that PPG Industries, Inc. will post 6.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.83%. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, August 9th. PPG Industries’s payout ratio is 34.46%.

In other PPG Industries news, VP Vadlamannati Ramaprasad sold 13,904 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the sale, the vice president now directly owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 674 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The disclosure for this sale can be found here. Insiders sold 17,078 shares of company stock worth $1,967,862 over the last ninety days. Insiders own 0.37% of the company’s stock.

Several equities analysts have recently commented on PPG shares. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating and set a $125.00 price objective on the stock in a research report on Thursday, July 4th. Citigroup set a $133.00 price objective on PPG Industries and gave the company a “buy” rating in a research report on Friday, July 19th. Credit Suisse Group set a $115.00 price objective on PPG Industries and gave the company a “hold” rating in a research report on Friday, July 19th. Buckingham Research boosted their price objective on PPG Industries from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada boosted their price objective on PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven 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 $123.71.

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.

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

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