Sumitomo Mitsui DS Asset Management Company Ltd Purchases 565 Shares of PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in PPG Industries, Inc. (NYSE:PPG) by 2.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,436 shares of the specialty chemicals company’s stock after purchasing an additional 565 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPG Industries were worth $3,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of PPG Industries by 6.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 645,197 shares of the specialty chemicals company’s stock valued at $77,069,000 after acquiring an additional 37,359 shares during the period. Bleakley Financial Group LLC raised its stake in PPG Industries by 8.3% in the 4th quarter. Bleakley Financial Group LLC now owns 4,712 shares of the specialty chemicals company’s stock worth $563,000 after purchasing an additional 360 shares in the last quarter. Choreo LLC boosted its holdings in PPG Industries by 45.8% in the 4th quarter. Choreo LLC now owns 6,958 shares of the specialty chemicals company’s stock valued at $829,000 after purchasing an additional 2,186 shares during the period. Tectonic Advisors LLC grew its position in shares of PPG Industries by 4.0% during the 4th quarter. Tectonic Advisors LLC now owns 48,884 shares of the specialty chemicals company’s stock worth $5,839,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PPG Industries by 48.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,201 shares of the specialty chemicals company’s stock worth $4,324,000 after purchasing an additional 11,744 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.9 %

Shares of NYSE PPG opened at $114.87 on Monday. The stock has a market cap of $26.65 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The firm has a 50 day moving average price of $120.03 and a two-hundred day moving average price of $123.82. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52-week low of $110.20 and a 52-week high of $145.60.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is currently 57.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PPG shares. The Goldman Sachs Group cut their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup reduced their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their price target on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.46.

About PPG Industries

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.