Tokio Marine Asset Management Co. Ltd. Has $1.54 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,262 shares of the specialty chemicals company’s stock after purchasing an additional 165 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PPG Industries were worth $1,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in PPG Industries during the 3rd quarter valued at $25,000. Valued Wealth Advisors LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $26,000. SJS Investment Consulting Inc. increased its position in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at $28,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at $30,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

PPG stock traded up $1.35 during mid-day trading on Friday, reaching $130.58. 52,302 shares of the company traded hands, compared to its average volume of 1,772,026. The company has a market capitalization of $30.62 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05. The company has a fifty day moving average price of $139.54 and a 200-day moving average price of $138.85. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the firm posted $1.82 earnings per share. PPG Industries’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries declared that its board has approved a stock buyback plan on Thursday, April 18th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PPG. Citigroup decreased their target price on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Barclays decreased their price objective on PPG Industries from $149.00 to $148.00 and set an “equal weight” rating for the company in a report on Monday. Robert W. Baird reissued an “outperform” rating and issued a $150.00 price objective on shares of PPG Industries in a report on Friday, January 19th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $155.47.

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.