Strategy Asset Managers LLC Buys 191 Shares of PPG Industries, Inc. (NYSE:PPG)

Strategy Asset Managers LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,232 shares of the specialty chemicals company’s stock after buying an additional 191 shares during the quarter. Strategy Asset Managers LLC’s holdings in PPG Industries were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares during the last quarter. International Assets Investment Management LLC increased its holdings in PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares during the last quarter. Federated Hermes Inc. raised its stake in PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after acquiring an additional 249,406 shares during the period. SG Americas Securities LLC lifted its holdings in PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in PPG Industries by 3,039.8% during the first quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company’s stock worth $29,185,000 after purchasing an additional 195,000 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, 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. Insiders own 0.56% of the company’s stock.

PPG Industries Price Performance

PPG opened at $121.29 on Thursday. The stock’s 50 day moving average price is $127.14 and its 200-day moving average price is $127.59. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock has a market capitalization of $28.14 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

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

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.24%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Mizuho dropped their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

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.