Quantinno Capital Management LP Has $5.11 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Quantinno Capital Management LP boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 89.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,567 shares of the specialty chemicals company’s stock after buying an additional 18,214 shares during the quarter. Quantinno Capital Management LP’s holdings in PPG Industries were worth $5,109,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP increased its holdings in shares of PPG Industries by 971.9% during the 3rd quarter. Quarry LP now owns 11,673 shares of the specialty chemicals company’s stock worth $1,546,000 after acquiring an additional 10,584 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of PPG Industries by 0.6% in the third quarter. Royal London Asset Management Ltd. now owns 97,295 shares of the specialty chemicals company’s stock valued at $12,888,000 after purchasing an additional 553 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of PPG Industries by 35.7% in the third quarter. IHT Wealth Management LLC now owns 4,592 shares of the specialty chemicals company’s stock valued at $604,000 after purchasing an additional 1,208 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of PPG Industries by 146.1% in the third quarter. Integrated Wealth Concepts LLC now owns 7,560 shares of the specialty chemicals company’s stock valued at $1,001,000 after purchasing an additional 4,488 shares during the period. Finally, Investment Management Corp of Ontario lifted its stake in shares of PPG Industries by 7.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 34,398 shares of the specialty chemicals company’s stock worth $4,556,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PPG shares. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 27th. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada dropped 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. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were 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 approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $125.57 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The company has a market cap of $29.13 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a 50 day moving average of $126.20 and a 200-day moving average of $126.77. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, 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. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio 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.