BNP Paribas Arbitrage SA Boosts Stake in PPG Industries (PPG)

BNP Paribas Arbitrage SA lifted its stake in shares of PPG Industries (NYSE:PPG) by 272.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 96,126 shares of the specialty chemicals company’s stock after buying an additional 70,326 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in PPG Industries were worth $10,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Burgundy Asset Management Ltd. lifted its stake in shares of PPG Industries by 8.0% during the 1st quarter. Burgundy Asset Management Ltd. now owns 331,532 shares of the specialty chemicals company’s stock worth $36,999,000 after buying an additional 24,658 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PPG Industries by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 690,397 shares of the specialty chemicals company’s stock worth $77,048,000 after buying an additional 11,169 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of PPG Industries by 10.2% during the 1st quarter. IFM Investors Pty Ltd now owns 7,962 shares of the specialty chemicals company’s stock worth $889,000 after buying an additional 740 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth about $1,191,000. Finally, Norinchukin Bank The lifted its stake in shares of PPG Industries by 14.6% during the 1st quarter. Norinchukin Bank The now owns 23,317 shares of the specialty chemicals company’s stock worth $2,602,000 after buying an additional 2,972 shares during the last quarter. Institutional investors own 75.86% of the company’s stock.

Shares of PPG Industries opened at $100.92 on Friday, MarketBeat.com reports. PPG Industries has a twelve month low of $100.36 and a twelve month high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.77 and a beta of 1.56.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Thursday, May 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, May 9th. PPG Industries’s dividend payout ratio is currently 30.66%.

PPG has been the subject of a number of research reports. Deutsche Bank upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $126.00 to $130.00 in a research note on Tuesday, March 20th. Credit Suisse Group cut their target price on shares of PPG Industries from $124.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, April 20th. Robert W. Baird restated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a research note on Friday, April 20th. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 25th. Finally, Seaport Global Securities cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Tuesday, April 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $124.06.

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries (NYSE:PPG).

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

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply