UBS Group AG Trims Stake in PPG Industries, Inc. (NYSE:PPG)

UBS Group AG lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 484,911 shares of the specialty chemicals company’s stock after selling 60,480 shares during the quarter. UBS Group AG owned about 0.20% of PPG Industries worth $72,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of PPG Industries by 16.9% during the fourth quarter. JPMorgan Chase & Co. now owns 8,396,267 shares of the specialty chemicals company’s stock valued at $1,210,910,000 after buying an additional 1,216,349 shares during the period. Norges Bank purchased a new position in shares of PPG Industries during the fourth quarter valued at about $646,570,000. Morgan Stanley increased its position in shares of PPG Industries by 46.4% during the fourth quarter. Morgan Stanley now owns 2,117,435 shares of the specialty chemicals company’s stock valued at $305,378,000 after buying an additional 671,287 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PPG Industries by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,346,059 shares of the specialty chemicals company’s stock valued at $194,122,000 after buying an additional 9,957 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of PPG Industries by 1.5% during the first quarter. Principal Financial Group Inc. now owns 1,305,210 shares of the specialty chemicals company’s stock valued at $196,121,000 after buying an additional 19,269 shares during the period. Institutional investors own 79.73% of the company’s stock.

In other PPG Industries news, SVP Vadlamannati Ramaprasad sold 20,956 shares of the company’s stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $168.84, for a total transaction of $3,538,211.04. Following the completion of the sale, the senior vice president now directly owns 28,192 shares of the company’s stock, valued at $4,759,937.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy M. Knavish sold 22,851 shares of the company’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $178.78, for a total transaction of $4,085,301.78. Following the sale, the executive vice president now directly owns 27,772 shares of the company’s stock, valued at $4,965,078.16. The disclosure for this sale can be found here. 0.43% of the stock is owned by insiders.

PPG has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of PPG Industries from $180.00 to $193.00 and gave the stock an “outperform” rating in a research note on Friday, May 14th. Morgan Stanley boosted their price objective on shares of PPG Industries from $147.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, April 26th. Credit Suisse Group reissued a “neutral” rating and set a $145.00 price objective on shares of PPG Industries in a research note on Monday, March 15th. Barclays boosted their price objective on shares of PPG Industries from $155.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 20th. Finally, BMO Capital Markets boosted their price objective on shares of PPG Industries from $185.00 to $193.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 20th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $169.29.

PPG opened at $177.39 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.43 and a quick ratio of 1.06. The firm’s 50 day moving average is $171.68. PPG Industries, Inc. has a twelve month low of $98.41 and a twelve month high of $182.97. The stock has a market capitalization of $42.06 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, April 14th. The specialty chemicals company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.31. PPG Industries had a net margin of 8.33% and a return on equity of 27.47%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that PPG Industries, Inc. will post 8.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 11th. Stockholders of record on Monday, May 10th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, May 7th. This represents a $2.16 annualized dividend and a dividend yield of 1.22%. PPG Industries’s payout ratio is 37.89%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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

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