Metis Global Partners LLC Acquires 2,205 Shares of PPG Industries, Inc. (NYSE:PPG)

Metis Global Partners LLC increased its position in PPG Industries, Inc. (NYSE:PPG) by 19.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,396 shares of the specialty chemicals company’s stock after buying an additional 2,205 shares during the period. Metis Global Partners LLC’s holdings in PPG Industries were worth $1,774,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its holdings in shares of PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after purchasing an additional 76 shares in the last quarter. Insight Folios Inc raised its stake in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares during the period. Klingman & Associates LLC increased its holdings in shares of PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc lifted its position in PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 84 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price 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. Citigroup cut their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. UBS Group boosted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Finally, Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.93.

PPG Industries Stock Down 0.8 %

Shares of PPG stock opened at $122.53 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a market capitalization of $28.43 billion, a PE ratio of 19.53, a P/E/G ratio of 1.89 and a beta of 1.26. The stock’s 50-day simple moving average is $127.42 and its 200-day simple moving average is $127.87.

PPG Industries (NYSE:PPG) last released its quarterly 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). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the company posted $2.07 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm 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 $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

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.