PPG Industries, Inc. (NYSE:PPG) Stake Lowered by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 72.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,506 shares of the specialty chemicals company’s stock after selling 38,415 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PPG Industries were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Connections Group Inc. acquired a new position in PPG Industries in the 2nd quarter worth about $25,000. Rothschild Investment LLC acquired a new stake in PPG Industries in the second quarter valued at approximately $37,000. LRI Investments LLC lifted its stake in PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the last quarter. Slocum Gordon & Co LLP grew its position in PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after acquiring an additional 155 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of PPG Industries by 66.2% during the 2nd quarter. Versant Capital Management Inc now owns 565 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 225 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PPG. Mizuho reduced their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada decreased 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 report on Tuesday, October 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Barclays decreased their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, Bank of America decreased their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Performance

NYSE PPG opened at $125.52 on Friday. The firm has a market cap of $29.12 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 1.92 and a beta of 1.26. The company has a 50 day moving average of $127.72 and a 200-day moving average of $128.05. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

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.