Sumitomo Mitsui Trust Group Inc. Increases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607,838 shares of the specialty chemicals company’s stock after purchasing an additional 2,971 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PPG Industries were worth $80,514,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PPG. Vest Financial LLC lifted its holdings in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion bought a new position in shares of PPG Industries during the second quarter valued at approximately $3,452,000. Vanguard Group Inc. increased its position in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in PPG Industries during the 3rd quarter valued at about $604,000. Finally, Swedbank AB lifted its position in PPG Industries by 6.3% in the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock valued at $19,986,000 after acquiring an additional 9,412 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG stock opened at $123.52 on Friday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The business’s 50-day moving average is $127.45 and its two-hundred day moving average is $127.90. 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 firm has a market capitalization of $28.66 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.86 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued 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). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. Analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company 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 dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on PPG shares. Royal Bank of Canada decreased their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Barclays decreased their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Citigroup decreased their price objective 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. Bank of America reduced their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price 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.