Metis Global Partners LLC Grows Position in PPG Industries, Inc. (NYSE:PPG)

Metis Global Partners LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,396 shares of the specialty chemicals company’s stock after purchasing an additional 2,205 shares during the quarter. Metis Global Partners LLC’s holdings in PPG Industries were worth $1,774,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. increased its stake in shares of PPG Industries by 10.2% during the first quarter. Sei Investments Co. now owns 61,648 shares of the specialty chemicals company’s stock worth $8,930,000 after acquiring an additional 5,700 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after buying an additional 76 shares in the last quarter. Blair William & Co. IL grew its holdings in PPG Industries by 3.0% during the first quarter. Blair William & Co. IL now owns 34,470 shares of the specialty chemicals company’s stock worth $4,995,000 after acquiring an additional 998 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in PPG Industries by 2.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 154,969 shares of the specialty chemicals company’s stock valued at $22,407,000 after acquiring an additional 4,406 shares during the period. Finally, Nicolet Advisory Services LLC boosted its position in shares of PPG Industries by 8.0% during the 1st quarter. Nicolet Advisory Services LLC now owns 4,234 shares of the specialty chemicals company’s stock worth $602,000 after purchasing an additional 312 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $122.53 on Friday. The firm has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a 50 day moving average price of $127.42 and a 200 day moving average price of $127.87.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Wall Street Analyst Weigh In

Several analysts recently commented on PPG shares. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada decreased their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target 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, Mizuho lowered 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 note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is 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.