PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,369 shares of the specialty chemicals company’s stock after buying an additional 116 shares during the quarter. Global X Japan Co. Ltd.’s holdings in PPG Industries were worth $446,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Financial Connections Group Inc. bought a new stake in PPG Industries during the 2nd quarter valued at $25,000. Riverview Trust Co bought a new stake in PPG Industries during the first quarter worth approximately $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries in the second quarter worth approximately $37,000. LRI Investments LLC bought a new position in PPG Industries during the 1st quarter valued at $53,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of PPG Industries by 103.6% in the 1st quarter. DiNuzzo Private Wealth Inc. now owns 399 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 203 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PPG. 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 report on Thursday, October 17th. UBS Group increased their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America reduced their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Down 1.7 %

Shares of PPG Industries stock opened at $126.60 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.58 and a quick ratio of 1.05. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.93 and a beta of 1.26. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The stock has a 50-day simple moving average of $127.56 and a 200-day simple moving average of $128.85.

PPG Industries (NYSE:PPG) last released 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 return on equity of 23.58% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the company posted $2.07 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts expect that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 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.