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

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,262 shares of the specialty chemicals company’s stock after purchasing an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PPG Industries were worth $1,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC boosted its position in shares of PPG Industries by 5.0% in the third quarter. DAVENPORT & Co LLC now owns 5,316 shares of the specialty chemicals company’s stock valued at $690,000 after acquiring an additional 253 shares during the period. Meridian Wealth Management LLC increased its stake in shares of PPG Industries by 47.5% in the third quarter. Meridian Wealth Management LLC now owns 4,650 shares of the specialty chemicals company’s stock valued at $604,000 after buying an additional 1,497 shares in the last quarter. Czech National Bank increased its stake in shares of PPG Industries by 47.7% in the third quarter. Czech National Bank now owns 41,162 shares of the specialty chemicals company’s stock valued at $5,343,000 after buying an additional 13,290 shares in the last quarter. Asset Management One Co. Ltd. increased its position in PPG Industries by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 97,996 shares of the specialty chemicals company’s stock worth $12,720,000 after purchasing an additional 493 shares during the period. Finally, First Personal Financial Services increased its position in PPG Industries by 51.9% in the third quarter. First Personal Financial Services now owns 1,300 shares of the specialty chemicals company’s stock worth $169,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity at PPG Industries

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Seaport Res Ptn upgraded PPG Industries from a “neutral” rating to a “buy” rating in a research report on Monday. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. KeyCorp lowered their price target on PPG Industries from $164.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Royal Bank of Canada decreased their target price on PPG Industries from $156.00 to $141.00 and set a “sector perform” rating on the stock in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $155.47.

PPG Industries Stock Performance

PPG stock traded up $1.35 during trading hours on Friday, hitting $130.58. 52,302 shares of the stock were exchanged, compared to its average volume of 1,772,026. The firm 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. PPG Industries, Inc. has a 12 month low of $120.32 and a 12 month high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $139.54 and a two-hundred day simple moving average of $138.85.

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

PPG Industries announced that its Board of Directors has approved a share buyback plan on Thursday, April 18th that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 43.92%.

About PPG Industries

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.