Nan Fung Trinity HK Ltd. Has $20.49 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Nan Fung Trinity HK Ltd. boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,500 shares of the specialty chemicals company’s stock after buying an additional 41,500 shares during the period. PPG Industries accounts for approximately 4.2% of Nan Fung Trinity HK Ltd.’s investment portfolio, making the stock its 9th largest holding. Nan Fung Trinity HK Ltd. owned 0.07% of PPG Industries worth $20,486,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of PPG Industries by 15.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 15,322 shares of the specialty chemicals company’s stock valued at $2,030,000 after buying an additional 2,047 shares during the last quarter. Private Advisor Group LLC raised its stake in PPG Industries by 6.9% during the 3rd quarter. Private Advisor Group LLC now owns 12,123 shares of the specialty chemicals company’s stock valued at $1,606,000 after acquiring an additional 781 shares in the last quarter. International Assets Investment Management LLC boosted its position in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares during the period. Ballentine Partners LLC grew its stake in shares of PPG Industries by 5.2% in the third quarter. Ballentine Partners LLC now owns 6,509 shares of the specialty chemicals company’s stock worth $862,000 after purchasing an additional 322 shares in the last quarter. Finally, Parcion Private Wealth LLC acquired a new position in shares of PPG Industries during the third quarter valued at $296,000. 81.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares in the company, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $114.88 on Friday. PPG Industries, Inc. has a one year low of $110.20 and a one year high of $145.60. The company has a 50-day moving average of $118.29 and a two-hundred day moving average of $123.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 2.19 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. StockNews.com cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, February 3rd. Royal Bank of Canada dropped their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Profile

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.