Asset Management One Co. Ltd. Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

Asset Management One Co. Ltd. lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 92,171 shares of the specialty chemicals company’s stock after purchasing an additional 586 shares during the quarter. Asset Management One Co. Ltd.’s holdings in PPG Industries were worth $12,209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Norden Group LLC acquired a new position in shares of PPG Industries during the 1st quarter worth $252,000. Private Advisor Group LLC increased its holdings in PPG Industries by 4.0% in the first quarter. Private Advisor Group LLC now owns 10,463 shares of the specialty chemicals company’s stock valued at $1,516,000 after buying an additional 407 shares in the last quarter. Nordea Investment Management AB increased its holdings in PPG Industries by 4.0% in the first quarter. Nordea Investment Management AB now owns 18,166 shares of the specialty chemicals company’s stock valued at $2,632,000 after buying an additional 707 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of PPG Industries during the 1st quarter valued at approximately $61,000. Finally, Empirical Finance LLC grew its holdings in shares of PPG Industries by 3.5% in the 1st quarter. Empirical Finance LLC now owns 8,528 shares of the specialty chemicals company’s stock worth $1,236,000 after acquiring an additional 287 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Trading Up 0.9 %

NYSE PPG opened at $125.78 on Thursday. The company’s fifty day moving average price is $127.86 and its two-hundred day moving average price is $128.10. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PPG shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Bank of America decreased their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.93.

About PPG Industries

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.