Sompo Asset Management Co. Ltd. Has $408,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Sompo Asset Management Co. Ltd. cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 40.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,080 shares of the specialty chemicals company’s stock after selling 2,087 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in PPG Industries were worth $408,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter valued at about $25,000. Capital Performance Advisors LLP bought a new position in PPG Industries in the third quarter worth approximately $34,000. Rothschild Investment LLC acquired a new stake in PPG Industries in the second quarter valued at approximately $37,000. Hara Capital LLC bought a new stake in shares of PPG Industries during the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of PPG Industries in the third quarter valued at $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’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 sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent research reports. 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. Mizuho cut their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Performance

Shares of PPG stock opened at $122.65 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The firm has a market cap of $28.45 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The firm’s 50-day simple moving average is $127.00 and its two-hundred day simple moving average is $127.40.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period last year, the firm posted $2.07 EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s payout ratio is 43.11%.

PPG Industries Company 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.