Asset Management One Co. Ltd. Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

Asset Management One Co. Ltd. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 0.6% in the 4th quarter, HoldingsChannel reports. The firm owned 91,648 shares of the specialty chemicals company’s stock after selling 523 shares during the quarter. Asset Management One Co. Ltd.’s holdings in PPG Industries were worth $11,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Exchange Traded Concepts LLC lifted its stake in PPG Industries by 156.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock valued at $154,000 after acquiring an additional 707 shares during the period. Vontobel Holding Ltd. lifted its position in PPG Industries by 7.1% during the third quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock valued at $454,000 after purchasing an additional 227 shares during the period. Good Life Advisors LLC boosted its holdings in PPG Industries by 6.2% in the third quarter. Good Life Advisors LLC now owns 2,461 shares of the specialty chemicals company’s stock valued at $326,000 after purchasing an additional 143 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in PPG Industries by 11.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,871 shares of the specialty chemicals company’s stock worth $3,427,000 after purchasing an additional 2,652 shares during the period. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of PPG Industries during the 3rd quarter valued at about $268,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.1 %

Shares of PPG opened at $117.75 on Monday. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60. The stock has a market cap of $27.32 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The firm’s fifty day moving average is $119.02 and its two-hundred day moving average is $123.44. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Research analysts forecast that PPG Industries, Inc. will post 7.96 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent research reports. Barclays lowered their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut shares of PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $145.00 to $115.00 in a research note on Wednesday, February 12th. UBS Group decreased their target price on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho cut their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries 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.