PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 641,728 shares of the specialty chemicals company’s stock after selling 4,196 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of PPG Industries worth $95,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Moneta Group Investment Advisors LLC lifted its stake in PPG Industries by 163,082.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after acquiring an additional 4,155,341 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in PPG Industries by 602,706.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after acquiring an additional 2,639,853 shares in the last quarter. Norges Bank acquired a new position in PPG Industries during the 4th quarter worth about $318,155,000. First Trust Advisors LP lifted its stake in PPG Industries by 280.6% during the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after acquiring an additional 1,279,104 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in PPG Industries by 41.1% during the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after acquiring an additional 959,849 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of several research reports. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. KeyCorp reduced their price target on PPG Industries from $167.00 to $164.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 9th. Redburn Atlantic lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Wells Fargo & Company raised PPG Industries from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $150.00 to $163.00 in a research report on Thursday, April 11th. Finally, Royal Bank of Canada reduced their price target on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.40.

PPG Industries Trading Down 1.1 %

PPG opened at $133.52 on Wednesday. The business’s 50-day simple moving average is $140.69 and its 200-day simple moving average is $138.93. The company has a market cap of $31.43 billion, a P/E ratio of 25.00, a PEG ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, equities research analysts expect that PPG Industries, Inc. will post 8.46 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.95%. PPG Industries’s dividend payout ratio (DPR) is 48.69%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.

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.