Shell Asset Management Co. Grows Position in PPG Industries, Inc. (NYSE:PPG)

Shell Asset Management Co. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 156.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,896 shares of the specialty chemicals company’s stock after buying an additional 3,596 shares during the quarter. Shell Asset Management Co.’s holdings in PPG Industries were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. purchased a new position in PPG Industries during the 4th quarter worth approximately $36,000. Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $38,000. Crews Bank & Trust acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $42,000. Sugar Maple Asset Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $44,000. Finally, Millstone Evans Group LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.8%

Shares of PPG stock opened at $113.99 on Monday. The business’s fifty day moving average price is $106.44 and its 200 day moving average price is $115.06. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The firm has a market capitalization of $25.88 billion, a PE ratio of 24.10, a P/E/G ratio of 2.19 and a beta of 1.20. 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 announced its quarterly earnings data 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. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. PPG Industries’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced 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 is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.39%. PPG Industries’s payout ratio is 58.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Barclays reissued an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Royal Bank of Canada boosted their target price on PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Seaport Res Ptn lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, UBS Group boosted their target price on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $128.42.

About PPG Industries

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.