Gulf International Bank UK Ltd Boosts Position in PPG Industries (PPG)

Gulf International Bank UK Ltd increased its holdings in PPG Industries (NYSE:PPG) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,336 shares of the specialty chemicals company’s stock after buying an additional 580 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $9,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. G&S Capital LLC purchased a new position in shares of PPG Industries in the fourth quarter worth approximately $110,000. Cerebellum GP LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $128,000. SeaCrest Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $132,000. Crewe Advisors LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $136,000. Finally, NuWave Investment Management LLC purchased a new position in PPG Industries during the fourth quarter valued at approximately $150,000. 76.92% of the stock is currently owned by institutional investors.

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NYSE PPG opened at $104.41 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $25.86 billion, a PE ratio of 17.45, a P/E/G ratio of 1.81 and a beta of 1.56. PPG Industries has a 12 month low of $101.76 and a 12 month high of $103.61.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.10). The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.35 earnings per share. equities research analysts anticipate that PPG Industries will post 6.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Thursday, May 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, May 9th. PPG Industries’s payout ratio is presently 30.66%.

Several equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating on shares of PPG Industries in a report on Tuesday, April 24th. BMO Capital Markets lowered their target price on shares of PPG Industries to $116.00 and set a “market perform” rating on the stock in a report on Thursday. Citigroup lowered their target price on shares of PPG Industries from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. Northcoast Research reissued a “buy” rating and issued a $128.00 target price on shares of PPG Industries in a report on Friday, January 19th. Finally, ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. PPG Industries currently has an average rating of “Hold” and an average price target of $124.06.

In other news, VP Jean-Marie Greindl sold 9,500 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total value of $1,100,005.00. Following the transaction, the vice president now directly owns 27,685 shares in the company, valued at $3,205,646.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)