Sompo Japan Nipponkoa Asset Management CO. LTD. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,387 shares of the specialty chemicals company’s stock after purchasing an additional 120 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in PPG Industries were worth $862,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Clearbridge Investments LLC increased its holdings in PPG Industries by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 5,527,445 shares of the specialty chemicals company’s stock valued at $623,883,000 after acquiring an additional 32,513 shares during the last quarter. Geode Capital Management LLC increased its holdings in PPG Industries by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 2,839,765 shares of the specialty chemicals company’s stock valued at $289,748,000 after acquiring an additional 153,809 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PPG Industries by 13.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,119,556 shares of the specialty chemicals company’s stock valued at $114,450,000 after acquiring an additional 130,127 shares during the last quarter. Mawer Investment Management Ltd. increased its holdings in PPG Industries by 1.7% in the 1st quarter. Mawer Investment Management Ltd. now owns 989,844 shares of the specialty chemicals company’s stock valued at $111,724,000 after acquiring an additional 16,494 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in PPG Industries by 3.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,445 shares of the specialty chemicals company’s stock valued at $110,926,000 after acquiring an additional 33,341 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.
In related news, VP William E. Schaupp sold 2,500 shares of PPG Industries stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the completion of the transaction, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of PPG Industries stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the transaction, the vice president now directly owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,078 shares of company stock valued at $1,967,862. 0.37% of the stock is owned by corporate insiders.
Shares of NYSE:PPG traded up $1.10 on Friday, reaching $110.72. The company’s stock had a trading volume of 852,800 shares, compared to its average volume of 1,370,543. PPG Industries, Inc. has a 52-week low of $94.37 and a 52-week high of $121.29. The company has a market cap of $26.04 billion, a P/E ratio of 18.70, a PEG ratio of 1.91 and a beta of 1.22. The company has a 50-day simple moving average of $116.16 and a 200 day simple moving average of $113.09. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.43.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. PPG Industries had a net margin of 8.07% and a return on equity of 27.89%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $1.90 EPS. The business’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries, Inc. will post 6.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.84%. PPG Industries’s payout ratio is currently 34.46%.
A number of analysts have issued reports on the stock. SunTrust Banks reiterated a “hold” rating and issued a $123.00 price target on shares of PPG Industries in a report on Friday, July 19th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America cut shares of PPG Industries from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $135.00 to $103.00 in a research note on Friday. Citigroup set a $133.00 price objective on shares of PPG Industries and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, ValuEngine cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $122.33.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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