KBC Group NV Lowers Holdings in PPG Industries, Inc. (NYSE:PPG)

KBC Group NV reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 349,402 shares of the specialty chemicals company’s stock after selling 9,912 shares during the quarter. KBC Group NV’s holdings in PPG Industries were worth $46,282,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PPG. Oppenheimer & Co. Inc. increased its holdings in shares of PPG Industries by 24.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,953 shares of the specialty chemicals company’s stock valued at $4,497,000 after purchasing an additional 6,675 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in PPG Industries by 13.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 85,562 shares of the specialty chemicals company’s stock valued at $11,334,000 after buying an additional 9,988 shares during the period. Victory Capital Management Inc. increased its holdings in PPG Industries by 13.9% in the third quarter. Victory Capital Management Inc. now owns 457,197 shares of the specialty chemicals company’s stock valued at $60,560,000 after buying an additional 55,808 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in shares of PPG Industries in the third quarter worth about $326,000. Finally, Aigen Investment Management LP purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $211,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Up 0.1 %

Shares of PPG opened at $123.52 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $127.45 and a 200 day moving average price of $127.90. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The firm has a market capitalization of $28.66 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.89 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The firm had revenue of $4.58 billion during 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%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $2.07 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PPG shares. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Barclays reduced their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

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.