Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,855 shares of the specialty chemicals company’s stock after purchasing an additional 2,728 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of PPG Industries worth $28,062,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares during the period. Boston Partners raised its holdings in shares of PPG Industries by 4.9% during the first quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after purchasing an additional 80,710 shares during the last quarter. ProShare Advisors LLC lifted its position in PPG Industries by 12.2% during the second quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after purchasing an additional 152,719 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in PPG Industries by 10.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,061,312 shares of the specialty chemicals company’s stock valued at $140,276,000 after purchasing an additional 98,941 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PPG Industries

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 transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by company insiders.

PPG Industries Trading Up 0.1 %

PPG opened at $123.45 on Friday. 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 company’s 50 day simple moving average is $126.69 and its two-hundred day simple moving average is $127.20. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. 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 earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company earned $2.07 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PPG. Royal Bank of Canada decreased their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $149.93.

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.