Nan Fung Trinity HK Ltd. Has $23.71 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Key Points

• Nan Fung Trinity HK Ltd. increased its stake in PPG Industries by 26.4% in the first quarter, making it the firm's 8th largest holding.
• PPG Industries reported quarterly earnings of $1.72 per share, exceeding analysts' expectations of $1.62, although revenue declined 4.3% year-over-year.
• The company is set to pay a quarterly dividend of $0.71 on September 12th, representing an annualized yield of 2.49%.

Nan Fung Trinity HK Ltd. grew its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 26.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,800 shares of the specialty chemicals company's stock after acquiring an additional 45,300 shares during the quarter. PPG Industries comprises 3.8% of Nan Fung Trinity HK Ltd.'s portfolio, making the stock its 8th biggest position. Nan Fung Trinity HK Ltd. owned about 0.10% of PPG Industries worth $23,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares during the period. Geode Capital Management LLC boosted its holdings in PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after purchasing an additional 93,455 shares during the last quarter. Invesco Ltd. boosted its holdings in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after purchasing an additional 271,699 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in PPG Industries by 7.0% in the fourth quarter. Franklin Resources Inc. now owns 3,356,722 shares of the specialty chemicals company's stock valued at $400,960,000 after purchasing an additional 220,152 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $5.91 on Wednesday, reaching $106.32. 6,554,735 shares of the company were exchanged, compared to its average volume of 1,543,491. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The company's 50-day moving average is $113.29 and its two-hundred day moving average is $111.94. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 2.35 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a return on equity of 24.18% and a net margin of 6.25%. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the firm earned $2.50 EPS. The firm's revenue was down .9% compared to the same quarter last year. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be given a $0.71 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

Analysts Set New Price Targets

PPG has been the subject of a number of analyst reports. Bank of America reissued a "neutral" rating and issued a $126.00 price target (down previously from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Wells Fargo & Company increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Citigroup increased their price target on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Mizuho increased their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $129.45.

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.