Investec Asset Management LTD Sells 1,467 Shares of PPG Industries, Inc. (PPG)

Investec Asset Management LTD trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 23.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,811 shares of the specialty chemicals company’s stock after selling 1,467 shares during the period. Investec Asset Management LTD’s holdings in PPG Industries were worth $523,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PPG. Harbour Capital Advisors LLC lifted its stake in shares of PPG Industries by 10,896.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 10,896 shares during the period. Bruderman Asset Management LLC bought a new position in PPG Industries during the 2nd quarter worth about $105,000. State of Alaska Department of Revenue bought a new position in PPG Industries during the 2nd quarter worth about $113,000. First Interstate Bank increased its holdings in PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares in the last quarter. Finally, Global X Management Co. LLC increased its holdings in PPG Industries by 9.2% during the 2nd quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.

PPG Industries, Inc. (PPG) opened at $115.93 on Friday. The firm has a market capitalization of $29,501.40, a PE ratio of 19.68, a PEG ratio of 2.31 and a beta of 1.59. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a 1-year low of $93.80 and a 1-year high of $119.85.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. PPG Industries’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.56 EPS. sell-side analysts expect that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s payout ratio is currently 26.12%.

A number of equities analysts have issued reports on PPG shares. Citigroup increased their target price on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. Credit Suisse Group set a $119.00 target price on PPG Industries and gave the stock a “buy” rating in a report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a report on Thursday, October 19th. Robert W. Baird reiterated a “buy” rating and set a $115.00 target price on shares of PPG Industries in a report on Friday, September 1st. Finally, KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of PPG Industries in a report on Friday, August 25th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $119.40.

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About PPG Industries

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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