Sompo Asset Management Co. Ltd. Has $408,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Sompo Asset Management Co. Ltd. decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 40.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,080 shares of the specialty chemicals company’s stock after selling 2,087 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in PPG Industries were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vest Financial LLC increased its holdings in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion acquired a new position in PPG Industries in the second quarter valued at about $3,452,000. Equity Investment Corp grew its position in PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of PPG Industries in the third quarter valued at $604,000. Finally, Swedbank AB raised its stake in shares of PPG Industries by 6.3% in the second quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock worth $19,986,000 after acquiring an additional 9,412 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.0 %

PPG stock opened at $122.65 on Monday. The business’s 50 day simple moving average is $127.00 and its 200 day simple moving average is $127.40. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The firm has a market capitalization of $28.45 billion, a PE ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 earnings per share. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Analyst Ratings Changes

PPG has been the topic of several research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $149.93.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is currently owned by insiders.

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.