Mitsubishi UFJ Trust & Banking Corp Buys 8,300 Shares of PPG Industries, Inc. (NYSE:PPG)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,901 shares of the specialty chemicals company’s stock after buying an additional 8,300 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of PPG Industries worth $19,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PPG. OFI Invest Asset Management bought a new position in shares of PPG Industries during the 3rd quarter worth approximately $25,000. Harbour Investments Inc. lifted its position in shares of PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 101 shares in the last quarter. Quarry LP bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $29,000. WFA of San Diego LLC bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $30,000. Finally, Intrepid Capital Management Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $30,000. Institutional investors own 79.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PPG shares. Royal Bank of Canada lowered their price target on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a report on Monday, January 22nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. KeyCorp lifted their price target on shares of PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. UBS Group lifted their price target on shares of PPG Industries from $165.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Wells Fargo & Company lifted their price target on shares of PPG Industries from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $158.93.

Get Our Latest Stock Analysis on PPG

PPG Industries Stock Up 0.7 %

PPG opened at $139.58 on Monday. The company has a fifty day moving average price of $144.87 and a 200-day moving average price of $137.79. The firm has a market capitalization of $32.91 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.47 and a quick ratio of 1.05. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last released its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.04. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.79%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. Equities research analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. PPG Industries’s dividend payout ratio (DPR) is currently 48.69%.

About PPG Industries

(Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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

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