Mizuho Markets Americas LLC Cuts Stake in PPG Industries, Inc. (NYSE:PPG)

Mizuho Markets Americas LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,033 shares of the specialty chemicals company’s stock after selling 2,602 shares during the period. Mizuho Markets Americas LLC’s holdings in PPG Industries were worth $5,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares in the last quarter. Boston Partners lifted its stake in PPG Industries by 4.9% during the first quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after purchasing an additional 80,710 shares during the last quarter. ProShare Advisors LLC boosted its stake in PPG Industries by 12.2% in the second quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock worth $176,751,000 after buying an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of PPG Industries by 9.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. 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 report on Monday, October 21st. Bank of America reduced their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. lowered their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Finally, Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.8 %

PPG opened at $122.53 on Friday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average price of $127.37 and a 200-day moving average price of $127.80. The stock has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.87 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date of this dividend 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%.

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.