Nomura Asset Management Co. Ltd. Has $46.62 Million Position in PPG Industries, Inc. (NYSE:PPG)

Nomura Asset Management Co. Ltd. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,938 shares of the specialty chemicals company's stock after buying an additional 27,342 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.15% of PPG Industries worth $46,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PPG. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the 2nd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. raised its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries in the third quarter valued at $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries in the 2nd quarter valued at about $37,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

NYSE:PPG traded down $1.44 during trading hours on Tuesday, reaching $125.42. 1,863,661 shares of the company were exchanged, compared to its average volume of 1,606,329. The business has a 50 day moving average of $126.09 and a 200 day moving average of $126.69. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market capitalization of $29.10 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.92 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.07 earnings per share. Research analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business's 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 completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PPG. StockNews.com downgraded PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 27th. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $149.93.

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.