Shell Asset Management Co. Grows Position in PPG Industries, Inc. (NYSE:PPG)

Shell Asset Management Co. raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 156.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,896 shares of the specialty chemicals company's stock after purchasing an additional 3,596 shares during the quarter. Shell Asset Management Co.'s holdings in PPG Industries were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in PPG Industries by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after purchasing an additional 756,937 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 17.7% during the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PPG Industries by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock valued at $660,752,000 after acquiring an additional 93,455 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of PPG Industries by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after acquiring an additional 271,699 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in shares of PPG Industries by 482.2% during the 4th 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 acquiring an additional 3,592,655 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Mizuho dropped their price target on shares of PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group cut their target price on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Price Performance

Shares of PPG traded down $1.04 during mid-day trading on Friday, reaching $110.18. The stock had a trading volume of 948,076 shares, compared to its average volume of 1,826,821. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.19 and a beta of 1.20. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The business has a fifty day moving average of $106.38 and a 200 day moving average of $114.69. 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 posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The company's revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 earnings per share. Equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company 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. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.47%. PPG Industries's payout ratio 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.