Union Bancaire Privee UBP SA Sells 12,462 Shares of PPG Industries, Inc. (NYSE:PPG)

Union Bancaire Privee UBP SA lowered its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 59.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,663 shares of the specialty chemicals company's stock after selling 12,462 shares during the period. Union Bancaire Privee UBP SA's holdings in PPG Industries were worth $939,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPG. Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter worth about $470,535,000. Kovitz Investment Group Partners LLC lifted 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 worth $518,132,000 after buying an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after buying an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of PPG Industries by 138.9% in the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company's stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the period. Finally, Wellington Management Group LLP increased its stake 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 purchasing an additional 1,590,041 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday. JPMorgan Chase & Co. dropped their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price objective 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, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, PPG Industries has an average rating of "Moderate Buy" and an average target price of $129.83.

PPG Industries Stock Performance

PPG traded down $5.78 on Friday, hitting $106.25. 2,499,615 shares of the stock traded hands, compared to its average volume of 1,833,773. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $24.12 billion, a PE ratio of 22.46, a P/E/G ratio of 2.19 and a beta of 1.17. The business has a fifty day moving average price of $107.69 and a two-hundred day moving average price of $113.44.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. 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 company posted $1.87 EPS. The company's revenue was down 4.3% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.56%. PPG Industries's dividend 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.