Fullerton Fund Management Co Ltd. Takes $634,000 Position in PPG Industries, Inc. (NYSE:PPG)

Fullerton Fund Management Co Ltd. acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,308 shares of the specialty chemicals company's stock, valued at approximately $634,000.

Other hedge funds have also modified their holdings of the company. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at about $36,000. Albion Financial Group UT acquired a new position in shares of PPG Industries in the fourth quarter valued at about $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the fourth quarter valued at about $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $44,000. Finally, Millstone Evans Group LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at about $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PPG shares. Barclays reissued an "equal weight" rating on shares of PPG Industries in a report on Monday, February 3rd. Bank of America restated a "neutral" rating and issued a $126.00 target price (down previously from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Wells Fargo & Company upped their target price on PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. Finally, Argus downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $128.42.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

PPG Industries Price Performance

PPG stock traded up $4.74 during mid-day trading on Monday, reaching $114.18. 1,989,101 shares of the company's stock were exchanged, compared to its average volume of 1,802,407. The company has a market cap of $25.92 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The stock's 50 day moving average is $106.58 and its 200 day moving average is $115.43. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. PPG Industries's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 earnings per share. On average, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm 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 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 yield of 2.38%. PPG Industries's dividend payout ratio is currently 58.24%.

PPG Industries 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.