Nuveen Asset Management LLC Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Nuveen Asset Management LLC lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,360 shares of the specialty chemicals company's stock after selling 85,639 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.30% of PPG Industries worth $83,539,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PPG. Barclays PLC boosted its position in shares of 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 during the period. Park Avenue Securities LLC lifted its stake 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 valued at $282,000 after purchasing an additional 236 shares during the period. Burney Co. raised its stake in shares of PPG Industries by 5.3% in the fourth quarter. Burney Co. now owns 5,570 shares of the specialty chemicals company's stock worth $665,000 after purchasing an additional 280 shares during the last quarter. Avanza Fonder AB bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $2,944,000. Finally, Merit Financial Group LLC lifted its position in shares of PPG Industries by 83.1% during the fourth quarter. Merit Financial Group LLC now owns 5,810 shares of the specialty chemicals company's stock worth $694,000 after acquiring an additional 2,637 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of PPG stock traded down $2.49 during trading hours on Wednesday, reaching $111.30. The company had a trading volume of 1,245,693 shares, compared to its average volume of 1,819,145. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock has a fifty day moving average of $106.54 and a 200-day moving average of $114.98. The company has a market capitalization of $25.26 billion, a price-to-earnings ratio of 23.53, 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.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. PPG Industries's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is 58.24%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PPG shares. Barclays reissued an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, February 6th. UBS Group boosted their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft raised their target price on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada increased their target price on PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries 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.