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

Nan Fung Trinity HK Ltd. increased its position in PPG Industries, Inc. (NYSE:PPG) by 31.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 4.2% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 9th largest holding. Nan Fung Trinity HK Ltd.’s holdings in PPG Industries were worth $20,486,000 at the end of the most recent quarter.

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

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 2.6 %

PPG Industries stock opened at $114.88 on Friday. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The business has a 50 day moving average price of $118.29 and a two-hundred day moving average price of $123.25. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reduced their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada lowered their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average price target of $138.15.

PPG Industries Company 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.