PPG Industries, Inc. (NYSE:PPG) Holdings Lifted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,046 shares of the specialty chemicals company’s stock after buying an additional 610 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPG Industries were worth $2,957,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PPG. Park Square Financial Group LLC bought a new position in PPG Industries during the fourth quarter valued at about $26,000. CVA Family Office LLC boosted its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $36,000. Beacon Capital Management LLC boosted its position in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 101 shares during the period. Finally, CX Institutional acquired a new position in shares of PPG Industries in the 1st quarter valued at $44,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft increased their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Bank of America reissued a “neutral” rating and issued a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Fermium Researc raised PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $130.67.

PPG Industries Stock Performance

PPG opened at $118.28 on Friday. The firm has a market capitalization of $26.85 billion, a P/E ratio of 25.33, a price-to-earnings-growth ratio of 2.48 and a beta of 1.16. The stock’s 50 day moving average price is $111.14 and its two-hundred day moving average price is $112.33. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm earned $1.87 EPS. PPG Industries’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s payout ratio is presently 58.24%.

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.