Impax Asset Management Group plc Sells 16,983 Shares of PPG Industries, Inc. (NYSE:PPG)

Impax Asset Management Group plc lessened its position in PPG Industries, Inc. (NYSE:PPG) by 6.7% during the third quarter, Holdings Channel reports. The fund owned 237,791 shares of the specialty chemicals company’s stock after selling 16,983 shares during the period. Impax Asset Management Group plc’s holdings in PPG Industries were worth $31,498,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares during the last quarter. Boston Partners boosted its stake in shares of PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after purchasing an additional 80,710 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after purchasing an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of PPG Industries by 9.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PPG. KeyCorp dropped their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada reduced their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $124.86 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $127.94 and its 200-day moving average price is $128.16. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a market cap of $28.97 billion, a PE ratio of 19.79, a PEG ratio of 1.90 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 analysts’ expectations of $4.66 billion. During the same period in the previous year, the business posted $2.07 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that PPG Industries, Inc. will post 8.19 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.18%. PPG Industries’s payout ratio is presently 43.11%.

About PPG Industries

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.