BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 46.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 76,603 shares of the specialty chemicals company’s stock after selling 65,360 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in PPG Industries were worth $10,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in PPG Industries by 20.1% during the second 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 during the period. International Assets Investment Management LLC grew its position in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after acquiring an additional 279,455 shares during the last quarter. Federated Hermes Inc. grew its position in PPG Industries by 91.0% during the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after acquiring an additional 249,406 shares during the last quarter. SG Americas Securities LLC lifted its position in PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after purchasing an additional 216,675 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of PPG Industries by 157.5% during the third quarter. Assenagon Asset Management S.A. now owns 316,161 shares of the specialty chemicals company’s stock valued at $41,879,000 after purchasing an additional 193,402 shares during the period. Institutional investors own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at $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 is available at the SEC website. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PPG. Royal Bank of Canada cut their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased 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. BMO Capital Markets reiterated 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. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Stock Performance

PPG Industries stock opened at $122.65 on Friday. The stock’s 50 day moving average is $127.00 and its 200 day moving average is $127.44. The company has a market capitalization of $28.45 billion, a P/E ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. 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.

PPG Industries (NYSE:PPG) last issued 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 company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 earnings per share. On average, equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. 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.