PPG Industries, Inc. (NYSE:PPG) Stock Holdings Boosted by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its holdings in PPG Industries by 8.7%, acquiring a total of 89,852 shares valued at approximately $9.77 million.
• PPG Industries has recently announced a quarterly dividend of $0.71, up from the previous $0.68, representing an annualized dividend yield of 2.5%.
• Analysts have varying price targets for PPG Industries, with a consensus target price of $129.82 and a current consensus rating of "Moderate Buy".

Resona Asset Management Co. Ltd. raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,852 shares of the specialty chemicals company's stock after acquiring an additional 7,218 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in PPG Industries were worth $9,774,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC grew its position in shares of 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 period. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after acquiring an additional 2,700,018 shares during the period. Dimensional Fund Advisors LP grew its position in PPG Industries by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,831,301 shares of the specialty chemicals company's stock valued at $338,199,000 after acquiring an additional 324,688 shares during the period. Charles Schwab Investment Management Inc. grew its position in PPG Industries by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company's stock valued at $298,992,000 after acquiring an additional 85,891 shares during the period. Finally, Northern Trust Corp grew its position in PPG Industries by 29.9% during the fourth quarter. Northern Trust Corp now owns 2,638,353 shares of the specialty chemicals company's stock valued at $315,151,000 after acquiring an additional 607,154 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.1%

NYSE PPG traded down $0.11 on Friday, hitting $111.84. 1,400,249 shares of the stock traded hands, compared to its average volume of 2,240,021. The stock has a 50-day moving average of $112.44 and a 200 day moving average of $110.78. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a market capitalization of $25.24 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%. PPG Industries's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 earnings per share. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PPG shares. Deutsche Bank Aktiengesellschaft upped their target price on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company upped their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. decreased their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Nine equities research 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

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.