UniSuper Management Pty Ltd Has $2.82 Million Position in PPG Industries, Inc. (NYSE:PPG)

UniSuper Management Pty Ltd grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 28.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,609 shares of the specialty chemicals company’s stock after buying an additional 5,210 shares during the quarter. UniSuper Management Pty Ltd’s holdings in PPG Industries were worth $2,820,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in PPG Industries by 68.3% during the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares in the last quarter. Townsquare Capital LLC boosted its stake in PPG Industries by 12.7% in the 3rd quarter. Townsquare Capital LLC now owns 7,232 shares of the specialty chemicals company’s stock valued at $958,000 after buying an additional 813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PPG Industries by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock valued at $248,650,000 after acquiring an additional 36,047 shares during the period. Public Sector Pension Investment Board grew its position in PPG Industries by 11.1% in the third quarter. Public Sector Pension Investment Board now owns 10,038 shares of the specialty chemicals company’s stock valued at $1,330,000 after acquiring an additional 1,000 shares during the period. Finally, Vinva Investment Management Ltd raised its stake in PPG Industries by 4.9% during the third quarter. Vinva Investment Management Ltd now owns 7,701 shares of the specialty chemicals company’s stock worth $1,036,000 after acquiring an additional 361 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Finally, Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $138.15.

Insider Activity

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were 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 of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Down 1.0 %

PPG opened at $107.32 on Friday. The firm has a 50 day simple moving average of $115.37 and a 200 day simple moving average of $121.20. PPG Industries, Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $145.61. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. 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 (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.53%. PPG Industries’s payout ratio is currently 57.51%.

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.