PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 163.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,839 shares of the specialty chemicals company’s stock after buying an additional 29,688 shares during the period. Mizuho Securities USA LLC’s holdings in PPG Industries were worth $6,337,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PPG. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries in the second quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the second quarter worth about $37,000. Hara Capital LLC purchased a new stake in shares of PPG Industries during the third quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries in the third quarter worth approximately $46,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was 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. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $122.53 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business has a 50 day simple moving average of $127.37 and a 200-day simple moving average of $127.80. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock has a market capitalization of $28.43 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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 return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current 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 paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp dropped their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Barclays decreased their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $149.93.

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.