Mirae Asset Global Investments Co. Ltd. Acquires 77,319 Shares of PPG Industries, Inc. $PPG

Mirae Asset Global Investments Co. Ltd. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, Holdings Channel reports. The fund bought 77,319 shares of the specialty chemicals company’s stock, valued at approximately $8,067,000.

A number of other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in PPG Industries during the second quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries in the 2nd quarter valued at approximately $28,000. Community Bank N.A. bought a new position in PPG Industries during the 2nd quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of PPG Industries in the second quarter valued at about $29,000. Finally, Silvant Capital Management LLC bought a new position in PPG Industries during the 2nd quarter worth approximately $30,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $128.00 price objective on shares of PPG Industries in a research note on Friday, October 9th. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. 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 report on Thursday, October 29th. Barclays lifted their price objective on PPG Industries from $136.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Finally, Wells Fargo & Company boosted their price objective on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $128.29.

PPG Industries Stock Up 5.1%

Shares of NYSE PPG opened at $127.42 on Thursday. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The firm’s 50-day moving average is $109.43 and its two-hundred day moving average is $112.71. The company has a market capitalization of $28.15 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.15.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company develops products designed to protect, decorate and improve the performance of surfaces and components used in transportation, construction, manufacturing and consumer products.

Its product portfolio includes automotive and commercial vehicle coatings, aerospace coatings, industrial and protective coatings, architectural paints, packaging coatings, and coatings used in marine and other specialty applications.