Janus Henderson Group PLC Acquires 24,662 Shares of PPG Industries, Inc. (PPG)

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Janus Henderson Group PLC increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 41.0% during the first quarter, HoldingsChannel.com reports. The fund owned 84,787 shares of the specialty chemicals company’s stock after buying an additional 24,662 shares during the period. Janus Henderson Group PLC’s holdings in PPG Industries were worth $9,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Wetherby Asset Management Inc. increased its position in PPG Industries by 2.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,655 shares of the specialty chemicals company’s stock worth $476,000 after buying an additional 96 shares during the period. UNIVEST FINANCIAL Corp grew its stake in shares of PPG Industries by 2.5% in the first quarter. UNIVEST FINANCIAL Corp now owns 3,925 shares of the specialty chemicals company’s stock worth $443,000 after purchasing an additional 97 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of PPG Industries by 1.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,422 shares of the specialty chemicals company’s stock worth $656,000 after purchasing an additional 103 shares in the last quarter. UMB Bank N A MO grew its stake in shares of PPG Industries by 2.6% in the fourth quarter. UMB Bank N A MO now owns 4,172 shares of the specialty chemicals company’s stock worth $427,000 after purchasing an additional 107 shares in the last quarter. Finally, Lourd Capital LLC grew its stake in shares of PPG Industries by 3.2% in the fourth quarter. Lourd Capital LLC now owns 3,556 shares of the specialty chemicals company’s stock worth $364,000 after purchasing an additional 109 shares in the last quarter. 79.33% of the stock is currently owned by institutional investors and hedge funds.

NYSE:PPG opened at $112.92 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The firm has a market capitalization of $26.43 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.95 and a beta of 1.19.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.17. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the company posted $1.39 EPS. PPG Industries’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 6.31 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.70%. PPG Industries’s dividend payout ratio (DPR) is 32.43%.

Several research firms have recently issued reports on PPG. Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets increased their price target on PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Barclays increased their price target on PPG Industries from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Buckingham Research increased their price target on PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, Deutsche Bank increased their price target on PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $118.10.

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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)

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