Qsemble Capital Management LP Cuts Holdings in PPG Industries, Inc. (NYSE:PPG)

Qsemble Capital Management LP decreased its position in PPG Industries, Inc. (NYSE:PPG) by 68.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,983 shares of the specialty chemicals company’s stock after selling 28,333 shares during the period. Qsemble Capital Management LP’s holdings in PPG Industries were worth $1,720,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PPG. Vest Financial LLC grew its stake in PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares during the period. BDF Gestion purchased a new stake in PPG Industries in the second quarter worth $3,452,000. Equity Investment Corp lifted its position in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after buying an additional 42,380 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of PPG Industries in the third quarter worth about $604,000. Finally, Swedbank AB lifted its stake in shares of PPG Industries by 6.3% during the 2nd quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock valued at $19,986,000 after buying an additional 9,412 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Mizuho dropped their price objective 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 target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Royal Bank of Canada cut 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 reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’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 value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.56% of the stock is owned by company insiders.

PPG Industries Price Performance

PPG opened at $125.81 on Tuesday. 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, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock’s 50 day simple moving average is $126.97 and its 200 day simple moving average is $127.34. The firm has a market cap of $29.19 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.88 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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). 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 the consensus estimate of $4.66 billion. During the same quarter in the prior year, the business posted $2.07 earnings per share. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a yield of 2.16%. PPG Industries’s payout ratio is 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.