Massachusetts Financial Services Co. MA Has $925.63 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Massachusetts Financial Services Co. MA lowered its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,987,997 shares of the specialty chemicals company's stock after selling 451,364 shares during the quarter. Massachusetts Financial Services Co. MA owned about 3.01% of PPG Industries worth $925,630,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock valued at $276,576,000 after buying an additional 368,410 shares during the last quarter. International Assets Investment Management LLC boosted its stake in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock valued at $56,538,000 after purchasing an additional 279,455 shares during the period. Federated Hermes Inc. increased its stake in shares of PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock valued at $65,905,000 after purchasing an additional 249,406 shares during the period. SG Americas Securities LLC raised its holdings in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company's stock valued at $32,246,000 after buying an additional 216,675 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in PPG Industries by 3,039.8% in the 1st quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company's stock worth $29,185,000 after buying an additional 195,000 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

PPG stock traded up $1.39 during midday trading on Thursday, reaching $122.68. 1,014,119 shares of the company's stock traded hands, compared to its average volume of 1,582,669. The company has a 50-day simple moving average of $127.14 and a two-hundred day simple moving average of $127.59. 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 company has a market cap of $28.46 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.85 and a beta of 1.26. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly 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 firm had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company's revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries's dividend payout ratio is currently 43.11%.

Insiders Place Their Bets

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 stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. Mizuho decreased 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. StockNews.com upgraded shares of PPG Industries from a "buy" rating to a "strong-buy" rating in a report on Tuesday. BMO Capital Markets reiterated an "outperform" rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $149.93.

PPG Industries Profile

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.