Qsemble Capital Management LP Has $1.72 Million Stock Position in PPG Industries, Inc. (NYSE:PPG)

Qsemble Capital Management LP lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 68.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,983 shares of the specialty chemicals company's stock after selling 28,333 shares during the quarter. Qsemble Capital Management LP's holdings in PPG Industries were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company's stock worth $68,692,000 after buying an additional 3,448 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in PPG Industries by 0.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company's stock valued at $4,040,000 after acquiring an additional 171 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of PPG Industries by 29.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company's stock valued at $732,000 after purchasing an additional 1,158 shares during the period. California State Teachers Retirement System grew its stake in shares of PPG Industries by 3.8% during the first quarter. California State Teachers Retirement System now owns 427,262 shares of the specialty chemicals company's stock worth $61,910,000 after purchasing an additional 15,701 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of PPG Industries by 145.0% during the first quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company's stock worth $3,417,000 after purchasing an additional 13,959 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPG. Mizuho reduced 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. StockNews.com raised shares of PPG Industries from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 19th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Royal Bank of Canada cut their target price on shares of 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. decreased their price target on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating for the company in a report on Friday, October 18th. Six research 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $149.93.

PPG Industries Stock Down 1.9 %

PPG stock traded down $2.42 during mid-day trading on Tuesday, reaching $123.37. The company had a trading volume of 979,969 shares, compared to its average volume of 1,579,813. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The stock has a 50 day simple moving average of $126.88 and a two-hundred day simple moving average of $127.25. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 23.63% and a net margin of 8.24%. PPG Industries's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, equities analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries's payout ratio is presently 43.11%.

PPG Industries Company 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.