B. Metzler seel. Sohn & Co. Holding AG Makes New $2.60 Million Investment in PPG Industries, Inc. (NYSE:PPG)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 19,648 shares of the specialty chemicals company’s stock, valued at approximately $2,603,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PPG. Dimensional Fund Advisors LP lifted its position in PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 368,410 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares during the last quarter. Federated Hermes Inc. grew its position in PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after acquiring an additional 249,406 shares in the last quarter. SG Americas Securities LLC increased its stake in PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in PPG Industries by 3,039.8% during the first quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company’s stock valued at $29,185,000 after purchasing an additional 195,000 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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 stock was 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 in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPG. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Royal Bank of Canada decreased their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Price Performance

PPG opened at $122.68 on Friday. 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 stock has a market capitalization of $28.46 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.85 and a beta of 1.26. The stock’s 50 day moving average price is $127.08 and its 200-day moving average price is $127.56. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 earnings per share. On average, equities research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.22%. 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.