22,578 PPG Industries, Inc. $PPG Shares Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 112,890.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,598 shares of the specialty chemicals company’s stock after buying an additional 22,578 shares during the period. Fulcrum Asset Management LLP’s holdings in PPG Industries were worth $2,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of PPG Industries in the second quarter worth about $2,856,392,000. State Street Corp boosted its holdings in PPG Industries by 8.8% during the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock valued at $1,682,428,000 after acquiring an additional 1,124,109 shares during the period. Pzena Investment Management LLC purchased a new stake in PPG Industries during the 2nd quarter valued at about $946,964,000. Dimensional Fund Advisors LP boosted its holdings in PPG Industries by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock valued at $312,613,000 after acquiring an additional 58,411 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in PPG Industries during the 2nd quarter worth approximately $318,870,000. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PPG. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $137.00 price target on shares of PPG Industries in a research note on Thursday, October 29th. UBS Group increased their price objective on PPG Industries from $116.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. increased their price objective on PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Citigroup raised their target price on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Finally, Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.29.

Insider Buying and Selling at PPG Industries

In other news, VP Chancey Hagerty sold 2,500 shares of PPG Industries stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total value of $317,850.00. Following the sale, the vice president directly owned 9,761 shares in the company, valued at approximately $1,241,013.54. This trade represents a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $124.41 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $110.25 and a 200-day moving average of $112.96. The firm has a market cap of $27.48 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.16 and a beta of 1.00. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the firm earned $2.13 earnings per share. PPG Industries’s quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts expect that PPG Industries, Inc. will post 7.98 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 42.29%.

PPG Industries Company Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.