Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 737,214 shares of the specialty chemicals company’s stock after selling 13,299 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of PPG Industries worth $80,106,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in PPG Industries by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,751,232 shares of the specialty chemicals company’s stock worth $2,171,845,000 after purchasing an additional 310,086 shares during the last quarter. Nordea Investment Management AB raised its holdings in PPG Industries by 52.6% during the second quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock worth $303,297,000 after purchasing an additional 950,967 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PPG Industries by 7.9% during the third quarter. Bank of New York Mellon Corp now owns 2,724,238 shares of the specialty chemicals company’s stock worth $296,017,000 after purchasing an additional 199,074 shares during the last quarter. Wells Fargo & Company MN raised its holdings in PPG Industries by 11.6% during the second quarter. Wells Fargo & Company MN now owns 2,702,372 shares of the specialty chemicals company’s stock worth $297,153,000 after purchasing an additional 281,730 shares during the last quarter. Finally, Parnassus Investments CA raised its holdings in PPG Industries by 3.9% during the third quarter. Parnassus Investments CA now owns 2,455,827 shares of the specialty chemicals company’s stock worth $266,850,000 after purchasing an additional 91,417 shares during the last quarter. 74.67% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts recently issued reports on PPG shares. Deutsche Bank AG lifted their price objective on PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, July 21st. SunTrust Banks, Inc. cut PPG Industries from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Bank of America Corporation cut PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a report on Monday, July 24th. Credit Suisse Group set a $113.00 price objective on PPG Industries and gave the stock a “buy” rating in a report on Sunday, July 23rd. Finally, BidaskClub cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $119.36.

Shares of PPG Industries, Inc. (NYSE:PPG) traded up $0.62 during trading hours on Friday, hitting $114.01. The stock had a trading volume of 1,396,200 shares, compared to its average volume of 1,453,314. The stock has a market capitalization of $28,920.00, a P/E ratio of 19.25, a P/E/G ratio of 2.26 and a beta of 1.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65. PPG Industries, Inc. has a twelve month low of $93.80 and a twelve month high of $119.85.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.52. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. research analysts forecast that PPG Industries, Inc. will post 5.9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio is currently 35.86%.

About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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