Sumitomo Mitsui Trust Group Inc. Acquires 37,359 Shares of PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 645,197 shares of the specialty chemicals company’s stock after purchasing an additional 37,359 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PPG Industries were worth $77,069,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Avenue Securities LLC lifted its stake in PPG Industries by 21.0% during the 3rd quarter. Park Avenue Securities LLC now owns 2,129 shares of the specialty chemicals company’s stock valued at $282,000 after acquiring an additional 369 shares in the last quarter. CWM LLC raised its holdings in shares of PPG Industries by 24.7% in the third quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock valued at $1,574,000 after purchasing an additional 2,351 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of PPG Industries by 237.4% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,498 shares of the specialty chemicals company’s stock valued at $198,000 after purchasing an additional 1,054 shares in the last quarter. Ritholtz Wealth Management purchased a new position in PPG Industries during the third quarter worth about $604,000. Finally, Exchange Traded Concepts LLC grew its position in PPG Industries by 156.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 707 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.9 %

NYSE:PPG opened at $114.87 on Monday. The company has a market cap of $26.65 billion, a P/E ratio of 24.29, a P/E/G ratio of 1.97 and a beta of 1.23. PPG Industries, Inc. has a 1 year low of $110.20 and a 1 year high of $145.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock’s fifty day moving average price is $120.03 and its two-hundred day moving average price is $123.82.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 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, analysts expect that PPG Industries, Inc. will post 7.96 EPS for the current year.

PPG Industries Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $140.46.

PPG Industries 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.