Korea Investment CORP Has $23.42 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Korea Investment CORP decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,088 shares of the specialty chemicals company’s stock after selling 88,033 shares during the period. Korea Investment CORP’s holdings in PPG Industries were worth $23,423,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PPG. Mutual Advisors LLC lifted its position in shares of PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after purchasing an additional 92 shares during the last quarter. Groupama Asset Managment increased its position in PPG Industries by 1.2% in the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after buying an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of PPG Industries by 28.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after buying an additional 95 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company’s stock valued at $990,000 after acquiring an additional 103 shares during the period. Finally, Sachetta LLC grew its stake in shares of PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company’s stock worth $81,000 after acquiring an additional 105 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

NYSE:PPG opened at $107.32 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market cap of $24.36 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. PPG Industries, Inc. has a 12 month low of $105.64 and a 12 month high of $145.61. The company’s 50-day moving average price is $115.37 and its two-hundred day moving average price is $121.20.

PPG Industries (NYSE:PPG) last announced its 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%. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.53%. PPG Industries’s dividend payout ratio is 57.51%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPG shares. KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. UBS Group lowered their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus price target of $138.15.

Insider Buying and Selling

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

About PPG Industries

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.