MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 4,240 Shares of PPG Industries, Inc. (NYSE:PPG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,879 shares of the specialty chemicals company's stock after purchasing an additional 4,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in PPG Industries were worth $3,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in PPG Industries by 21.0% during the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company's stock worth $151,276,000 after buying an additional 198,353 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of PPG Industries by 11.1% in the 4th quarter. Park Avenue Securities LLC now owns 2,365 shares of the specialty chemicals company's stock worth $282,000 after acquiring an additional 236 shares during the period. Merit Financial Group LLC grew its holdings in shares of PPG Industries by 83.1% during the 4th quarter. Merit Financial Group LLC now owns 5,810 shares of the specialty chemicals company's stock worth $694,000 after purchasing an additional 2,637 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of PPG Industries by 6.7% during the 4th quarter. HB Wealth Management LLC now owns 8,554 shares of the specialty chemicals company's stock worth $1,022,000 after purchasing an additional 540 shares in the last quarter. Finally, Ameritas Advisory Services LLC raised its stake in shares of PPG Industries by 941.8% in the fourth quarter. Ameritas Advisory Services LLC now owns 27,681 shares of the specialty chemicals company's stock valued at $3,307,000 after purchasing an additional 25,024 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PPG. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Citigroup reduced their price objective on shares of PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Bank of America reissued a "neutral" rating and issued a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Finally, Fermium Researc raised PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.42.

PPG Industries Price Performance

Shares of PPG stock opened at $114.16 on Tuesday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The stock has a market capitalization of $25.91 billion, a PE ratio of 24.14, a PEG ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock's fifty day moving average is $106.50 and its 200-day moving average is $114.99.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the business earned $1.87 earnings per share. PPG Industries's quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.38%. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

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.

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