Sumitomo Mitsui Trust Group Inc. Purchases 2,971 Shares of PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 607,838 shares of the specialty chemicals company’s stock after buying an additional 2,971 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of PPG Industries worth $80,514,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sei Investments Co. grew its position in shares of PPG Industries by 10.2% during the 1st quarter. Sei Investments Co. now owns 61,648 shares of the specialty chemicals company’s stock worth $8,930,000 after purchasing an additional 5,700 shares in the last quarter. QRG Capital Management Inc. increased its stake in PPG Industries by 19.1% during the 1st quarter. QRG Capital Management Inc. now owns 6,146 shares of the specialty chemicals company’s stock worth $891,000 after acquiring an additional 984 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in PPG Industries by 4.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 94,078 shares of the specialty chemicals company’s stock valued at $13,632,000 after acquiring an additional 4,098 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after acquiring an additional 76 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of PPG Industries by 3.0% during the 1st quarter. Blair William & Co. IL now owns 34,470 shares of the specialty chemicals company’s stock worth $4,995,000 after purchasing an additional 998 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1 %

Shares of 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 company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $28.66 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.86 and a beta of 1.26. The stock has a 50-day moving average of $127.45 and a 200-day moving average of $127.90.

PPG Industries (NYSE:PPG) last released its 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 firm had revenue of $4.58 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.07 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have commented on PPG. Citigroup decreased their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. KeyCorp decreased their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group lifted their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’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 of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

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.