World Asset Management Inc Reduces Stock Position in PPG Industries, Inc. (NYSE:PPG)

World Asset Management Inc reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,107 shares of the specialty chemicals company’s stock after selling 438 shares during the quarter. World Asset Management Inc’s holdings in PPG Industries were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PPG. FMR LLC lifted its stake in shares of PPG Industries by 27.8% during the 1st quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company’s stock valued at $19,158,000 after buying an additional 36,888 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of PPG Industries by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 6,217 shares of the specialty chemicals company’s stock valued at $1,056,000 after buying an additional 917 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in PPG Industries by 13.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 43,807 shares of the specialty chemicals company’s stock worth $7,437,000 after acquiring an additional 5,099 shares during the period. Van ECK Associates Corp bought a new stake in PPG Industries during the 2nd quarter worth approximately $3,331,000. Finally, BNP Paribas Arbitrage SA increased its holdings in PPG Industries by 85.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 87,628 shares of the specialty chemicals company’s stock worth $14,877,000 after acquiring an additional 40,477 shares during the period. Institutional investors own 78.05% of the company’s stock.

Shares of PPG opened at $165.00 on Friday. The stock has a market capitalization of $39.17 billion, a P/E ratio of 27.73, a PEG ratio of 1.35 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 1.34 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $164.38 and a two-hundred day simple moving average of $161.33. PPG Industries, Inc. has a twelve month low of $132.10 and a twelve month high of $182.97.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 19th. The specialty chemicals company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.10. PPG Industries had a net margin of 8.71% and a return on equity of 27.62%. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same period last year, the company posted $1.93 EPS. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. Sell-side analysts expect that PPG Industries, Inc. will post 6.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Wednesday, November 10th were given a $0.59 dividend. The ex-dividend date was Tuesday, November 9th. This represents a $2.36 annualized dividend and a dividend yield of 1.43%. PPG Industries’s dividend payout ratio is 39.66%.

A number of analysts recently weighed in on PPG shares. Barclays upped their target price on shares of PPG Industries from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, October 22nd. Vertical Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating and set a $176.00 price target on the stock. in a report on Tuesday, January 4th. BMO Capital Markets decreased their price target on shares of PPG Industries from $188.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, October 22nd. Citigroup increased their price target on shares of PPG Industries from $161.00 to $169.00 and gave the stock a “neutral” rating in a report on Friday, October 22nd. Finally, JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $165.00 price target on the stock. in a report on Friday, October 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $178.52.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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