Royal London Asset Management Ltd. Has $11.98 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Royal London Asset Management Ltd. grew its stake in PPG Industries, Inc. (NYSE:PPG) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,283 shares of the specialty chemicals company’s stock after purchasing an additional 2,988 shares during the period. Royal London Asset Management Ltd.’s holdings in PPG Industries were worth $11,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPG. First Eagle Investment Management LLC grew its position in PPG Industries by 138.9% in the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the last quarter. Cooke & Bieler LP bought a new position in shares of PPG Industries during the 4th quarter worth about $107,850,000. Raymond James Financial Inc. bought a new position in shares of PPG Industries during the 4th quarter worth about $82,071,000. State Street Corp lifted its holdings in shares of PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after acquiring an additional 485,597 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.5 %

Shares of NYSE PPG opened at $110.75 on Friday. PPG Industries, Inc. has a 1-year low of $109.15 and a 1-year high of $145.61. The company has a market cap of $25.14 billion, a PE ratio of 23.42, a P/E/G ratio of 2.19 and a beta of 1.22. 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 company has a 50-day moving average of $116.09 and a two-hundred day moving average of $121.73.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PPG. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, February 4th. Seaport Res Ptn downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. JPMorgan Chase & Co. downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating and cut their price target for the company from $145.00 to $115.00 in a report on Wednesday, February 12th. Finally, UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $138.15.

Insider Activity

In other news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Company 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.