USS Investment Management Ltd Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

USS Investment Management Ltd lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 21.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,920 shares of the specialty chemicals company's stock after selling 13,496 shares during the period. USS Investment Management Ltd's holdings in PPG Industries were worth $6,082,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mutual Advisors LLC increased its holdings in PPG Industries by 3.6% in the fourth quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock valued at $319,000 after buying an additional 92 shares during the last quarter. LRI Investments LLC increased its holdings in shares of PPG Industries by 25.3% in the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 92 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock worth $51,000 after acquiring an additional 95 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in PPG Industries by 1.3% during the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock worth $990,000 after purchasing an additional 103 shares during the last quarter. Finally, Sachetta LLC boosted its holdings in PPG Industries by 18.4% in the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock valued at $81,000 after purchasing an additional 105 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PPG. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada upped their price target 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 issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.42.

PPG Industries Price Performance

PPG stock traded up $2.12 on Tuesday, reaching $112.20. 621,210 shares of the company's stock were exchanged, compared to its average volume of 2,188,518. The stock has a fifty day moving average of $106.32 and a 200-day moving average of $114.50. The firm has a market cap of $25.47 billion, a PE ratio of 23.72, a P/E/G ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

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 for 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%. The business's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. PPG Industries's payout ratio is 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.