Royal London Asset Management Ltd. Acquires 4,509 Shares of PPG Industries, Inc. (NYSE:PPG)

Royal London Asset Management Ltd. boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,742 shares of the specialty chemicals company’s stock after purchasing an additional 4,509 shares during the quarter. Royal London Asset Management Ltd.’s holdings in PPG Industries were worth $12,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its stake in PPG Industries by 38.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 76 shares during the period. Kingsview Wealth Management LLC grew its holdings in PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after buying an additional 76 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after buying an additional 81 shares in the last quarter. SYSTM Wealth Solutions LLC grew its holdings in PPG Industries by 4.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock valued at $292,000 after buying an additional 82 shares in the last quarter. Finally, Applied Capital LLC FL grew its holdings in PPG Industries by 1.3% during the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after buying an additional 82 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $125.49 on Friday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The firm has a market capitalization of $29.43 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.68 and a beta of 1.26. The stock has a 50 day moving average price of $125.70 and a 200 day moving average price of $131.40.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company earned $2.25 EPS. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. The ex-dividend date was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. PPG Industries’s payout ratio is 45.95%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PPG. UBS Group raised their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Citigroup dropped their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets dropped their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.08.

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.