PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 20.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,457 shares of the specialty chemicals company’s stock after acquiring an additional 4,212 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in PPG Industries were worth $3,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PPG. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter valued at approximately $25,000. Rothschild Investment LLC acquired a new position in PPG Industries in the second quarter worth approximately $37,000. LRI Investments LLC grew its position in PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock worth $49,000 after buying an additional 320 shares during the last quarter. Slocum Gordon & Co LLP grew its position in PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 155 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. grew its position in PPG Industries by 103.6% in the first quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.7 %

Shares of NYSE:PPG opened at $126.52 on Wednesday. The firm has a fifty day moving average of $128.03 and a two-hundred day moving average of $128.44. The firm has a market capitalization of $29.35 billion, a P/E ratio of 20.05, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. On average, equities analysts expect that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PPG. Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada decreased their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Barclays lowered their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.93.

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.