Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,944 shares of the specialty chemicals company’s stock after selling 5,342 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in PPG Industries were worth $4,062,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ledyard National Bank increased its position in shares of PPG Industries by 10.9% in the first quarter. Ledyard National Bank now owns 3,044 shares of the specialty chemicals company’s stock valued at $320,000 after buying an additional 300 shares in the last quarter. LS Investment Advisors LLC increased its position in PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock valued at $3,266,000 after buying an additional 4,799 shares during the period. Swiss National Bank increased its position in PPG Industries by 26.1% in the first quarter. Swiss National Bank now owns 935,360 shares of the specialty chemicals company’s stock valued at $98,288,000 after buying an additional 193,800 shares during the period. BlackRock Inc. increased its position in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after buying an additional 13,902,595 shares during the period. Finally, Whittier Trust Co. increased its position in PPG Industries by 1.0% in the first quarter. Whittier Trust Co. now owns 12,481 shares of the specialty chemicals company’s stock valued at $1,312,000 after buying an additional 125 shares during the period. 71.81% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries, Inc. (PPG) opened at 100.73 on Friday. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 26.50 and a beta of 1.54. The company has a 50 day moving average of $108.24 and a 200 day moving average of $106.17. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.67.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the consensus estimate of $1.83. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, equities analysts predict that PPG Industries, Inc. will post $6.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.79%. PPG Industries’s payout ratio is presently 46.88%.

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PPG has been the topic of several research analyst reports. Deutsche Bank AG reissued a “hold” rating and issued a $110.00 target price (up previously from $102.00) on shares of PPG Industries in a report on Sunday, April 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 target price (up previously from $113.00) on shares of PPG Industries in a report on Tuesday, April 18th. Bank of America Corporation downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target on the stock. in a research note on Monday, July 24th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $114.50.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. 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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