BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Stake in PPG Industries, Inc. (NYSE:PPG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 46.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,603 shares of the specialty chemicals company’s stock after selling 65,360 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in PPG Industries were worth $10,147,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PPG. Insight Folios Inc increased its position in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC boosted its stake in shares of PPG Industries by 2.6% during the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares during the last quarter. Fragasso Financial Advisors Inc grew its position in shares of PPG Industries by 0.6% during the 2nd quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after acquiring an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in shares of PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock worth $435,000 after purchasing an additional 86 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’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 sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PPG shares. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. 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 research note on Friday, October 18th. Royal Bank of Canada dropped their price target 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. Finally, Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Price Performance

NYSE:PPG opened at $122.65 on Friday. The business’s 50-day moving average is $127.00 and its 200 day moving average is $127.44. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a market capitalization of $28.45 billion, a P/E ratio of 19.44, a P/E/G 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 posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.