Exane Asset Management Grows Holdings in PPG Industries, Inc. (PPG)

Exane Asset Management grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 47.9% during the first quarter, HoldingsChannel reports. The firm owned 133,246 shares of the specialty chemicals company’s stock after purchasing an additional 43,138 shares during the period. PPG Industries makes up approximately 7.3% of Exane Asset Management’s investment portfolio, making the stock its 2nd largest position. Exane Asset Management’s holdings in PPG Industries were worth $15,039,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc. grew its position in shares of PPG Industries by 0.9% during the fourth quarter. TD Asset Management Inc. now owns 72,609 shares of the specialty chemicals company’s stock worth $7,423,000 after acquiring an additional 616 shares during the last quarter. Putnam FL Investment Management Co. purchased a new position in PPG Industries in the 4th quarter valued at $213,000. Janney Montgomery Scott LLC grew its position in PPG Industries by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 126,124 shares of the specialty chemicals company’s stock valued at $12,894,000 after buying an additional 1,867 shares during the last quarter. G&S Capital LLC grew its position in PPG Industries by 13.9% in the 4th quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after buying an additional 156 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new position in PPG Industries in the 4th quarter valued at $45,000. 79.33% of the stock is currently owned by institutional investors.

Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Barclays boosted their target price on shares of PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Buckingham Research boosted their target price on shares of PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Deutsche Bank boosted their target price on shares of PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $118.10.

Shares of NYSE:PPG traded up $0.31 during midday trading on Wednesday, hitting $111.87. 10,106 shares of the stock were exchanged, compared to its average volume of 1,213,176. The company has a market capitalization of $26.27 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $121.29.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.17. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.69 billion. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.39 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 6.31 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

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PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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