Sumitomo Mitsui DS Asset Management Company Ltd Has $3.16 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,436 shares of the specialty chemicals company’s stock after buying an additional 565 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPG Industries were worth $3,158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in shares of PPG Industries by 4.4% in the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after acquiring an additional 491,774 shares in the last quarter. Wellington Management Group LLP grew its holdings in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the period. Franklin Resources Inc. increased its stake in PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after purchasing an additional 15,161 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PPG Industries by 2.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,170 shares of the specialty chemicals company’s stock worth $248,650,000 after purchasing an additional 36,047 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG opened at $114.87 on Monday. The stock has a 50 day moving average of $120.03 and a 200 day moving average of $123.82. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 12 month low of $110.20 and a 12 month high of $145.60. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that PPG Industries, Inc. will post 7.96 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on PPG shares. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Barclays reduced their price target on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price 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.