Sumitomo Mitsui DS Asset Management Company Ltd Has $2.96 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in PPG Industries, Inc. (NYSE:PPG) by 2.3% during the first quarter, HoldingsChannel.com reports. The fund owned 27,046 shares of the specialty chemicals company’s stock after acquiring an additional 610 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PPG Industries were worth $2,957,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 339 shares during the period. IFP Advisors Inc lifted its holdings in shares of PPG Industries by 186.8% during the fourth quarter. IFP Advisors Inc now owns 628 shares of the specialty chemicals company’s stock valued at $75,000 after acquiring an additional 409 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of PPG Industries by 114.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,325 shares of the specialty chemicals company’s stock valued at $158,000 after acquiring an additional 708 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of PPG Industries by 25.8% during the fourth quarter. Jones Financial Companies Lllp now owns 1,961 shares of the specialty chemicals company’s stock valued at $234,000 after acquiring an additional 402 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of PPG Industries by 25.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 22,077 shares of the specialty chemicals company’s stock valued at $2,637,000 after acquiring an additional 4,522 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $118.28 on Friday. The business has a fifty day moving average of $111.14 and a 200-day moving average of $112.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The firm has a market cap of $26.85 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.48 and a beta of 1.16. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. On average, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.30%. PPG Industries’s payout ratio is 58.24%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PPG shares. Bank of America reissued a “neutral” rating and set a $126.00 price objective (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. UBS Group lifted their price objective on PPG Industries from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft raised their target price on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $130.67.

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.