PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 639,691 shares of the specialty chemicals company's stock after selling 5,506 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of PPG Industries worth $69,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC increased its position in PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares during the period. IFP Advisors Inc grew its stake in shares of PPG Industries by 186.8% in the fourth quarter. IFP Advisors Inc now owns 628 shares of the specialty chemicals company's stock worth $75,000 after acquiring an additional 409 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of PPG Industries in the 4th quarter worth about $6,997,000. QRG Capital Management Inc. grew its position in PPG Industries by 3.9% during the 4th quarter. QRG Capital Management Inc. now owns 11,644 shares of the specialty chemicals company's stock valued at $1,391,000 after purchasing an additional 437 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of PPG Industries by 8.7% in the fourth quarter. Metis Global Partners LLC now owns 14,556 shares of the specialty chemicals company's stock worth $1,739,000 after buying an additional 1,160 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 1.9%

Shares of PPG Industries stock traded up $2.24 during trading on Wednesday, reaching $118.65. The company's stock had a trading volume of 1,587,779 shares, compared to its average volume of 1,854,870. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a 50-day simple moving average of $110.52 and a two-hundred day simple moving average of $112.32. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.79. The company has a market cap of $26.93 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.44 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. PPG Industries's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 EPS. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.68 per share. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.29%. PPG Industries's dividend payout ratio (DPR) is presently 58.24%.

Analysts Set New Price Targets

PPG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. UBS Group lifted their price target on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Argus cut PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Wells Fargo & Company upped their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Royal Bank Of Canada upped their price objective on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $130.67.

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.