Sei Investments Co. raised its position in shares of PPG Industries Inc. (NYSE:PPG) by 26.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 210,832 shares of the company’s stock after buying an additional 44,627 shares during the period. Sei Investments Co.’s holdings in PPG Industries were worth $21,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Fund Management S.A. purchased a new position in PPG Industries during the second quarter worth $24,833,000. Bank of New York Mellon Corp raised its position in PPG Industries by 8.7% in the third quarter. Bank of New York Mellon Corp now owns 3,061,387 shares of the company’s stock worth $316,425,000 after buying an additional 245,768 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in PPG Industries by 9.9% in the second quarter. Aberdeen Asset Management PLC UK now owns 88,409 shares of the company’s stock worth $9,207,000 after buying an additional 7,939 shares during the last quarter. Janney Montgomery Scott LLC raised its position in PPG Industries by 177.4% in the second quarter. Janney Montgomery Scott LLC now owns 200,390 shares of the company’s stock worth $20,870,000 after buying an additional 128,158 shares during the last quarter. Finally, TIAA CREF Trust Co. FSB MO raised its position in PPG Industries by 3.5% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 24,635 shares of the company’s stock worth $2,547,000 after buying an additional 827 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

PPG Industries Inc. (NYSE:PPG) traded down 0.59% during trading on Wednesday, hitting $97.42. 477,506 shares of the stock traded hands. PPG Industries Inc. has a 52-week low of $88.37 and a 52-week high of $117.00. The firm has a 50-day moving average price of $94.15 and a 200 day moving average price of $102.54. The company has a market cap of $25.72 billion, a P/E ratio of 30.95 and a beta of 1.40.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 20th. The company reported $1.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.56. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.83 billion. PPG Industries had a net margin of 5.56% and a return on equity of 30.59%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 EPS. On average, equities analysts expect that PPG Industries Inc. will post $5.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Thursday, November 10th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, November 8th. PPG Industries’s dividend payout ratio (DPR) is 51.12%.

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A number of research analysts recently weighed in on PPG shares. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. RBC Capital Markets reissued an “outperform” rating and set a $106.00 price target (down from $125.00) on shares of PPG Industries in a research report on Wednesday, October 12th. Credit Suisse Group AG reissued a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research report on Tuesday, August 9th. Jefferies Group reissued a “buy” rating and set a $129.00 price target on shares of PPG Industries in a research report on Wednesday, October 5th. Finally, JPMorgan Chase & Co. set a $110.00 price target on shares of PPG Industries and gave the company a “buy” rating in a research report on Monday, October 10th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. PPG Industries currently has an average rating of “Buy” and an average target price of $113.42.

PPG Industries Company Profile

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

5 Day Chart for NYSE:PPG

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