Honeywell International Inc. Grows Stake in PPG Industries, Inc. (PPG)

Honeywell International Inc. lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,300 shares of the specialty chemicals company’s stock after acquiring an additional 20,100 shares during the quarter. Honeywell International Inc. owned 0.08% of PPG Industries worth $23,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. BlackRock Inc. boosted its stake in shares of PPG Industries by 2,006.8% during the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after acquiring an additional 13,902,595 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of PPG Industries by 639.5% during the 1st quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after acquiring an additional 3,643,443 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of PPG Industries during the 2nd quarter worth $192,226,000. Nordea Investment Management AB boosted its stake in shares of PPG Industries by 52.6% during the 2nd quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock worth $303,297,000 after acquiring an additional 950,967 shares in the last quarter. Finally, Pioneer Investment Management Inc. boosted its stake in shares of PPG Industries by 208.1% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,183,124 shares of the specialty chemicals company’s stock worth $130,096,000 after acquiring an additional 799,098 shares in the last quarter. 74.51% of the stock is owned by institutional investors and hedge funds.

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In related news, insider Viktoras R. Sekmakas sold 18,616 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the transaction, the insider now directly owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the transaction, the vice president now directly owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on PPG. Citigroup Inc. raised their price objective on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Robert W. Baird raised their price objective on PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Bank of America Corporation set a $120.00 price objective on PPG Industries and gave the stock a “hold” rating in a research note on Friday, October 20th. Credit Suisse Group set a $119.00 target price on PPG Industries and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $119.36.

PPG Industries, Inc. (PPG) traded down 1.21% during mid-day trading on Monday, reaching $116.50. The company had a trading volume of 389,848 shares. The stock has a market cap of $29.88 billion, a PE ratio of 30.65 and a beta of 1.55. The firm’s 50-day moving average price is $111.24 and its 200-day moving average price is $108.42. PPG Industries, Inc. has a 12 month low of $90.88 and a 12 month high of $119.85.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.52. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.56 EPS. Equities research analysts forecast that PPG Industries, Inc. will post $5.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s payout ratio is presently 26.12%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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