Quantbot Technologies LP Sells 24,899 Shares of PPG Industries, Inc. (NYSE:PPG)

Quantbot Technologies LP cut its stake in PPG Industries, Inc. (NYSE:PPG) by 60.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,626 shares of the specialty chemicals company’s stock after selling 24,899 shares during the quarter. Quantbot Technologies LP’s holdings in PPG Industries were worth $2,202,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new stake in PPG Industries in the second quarter worth about $25,000. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the 3rd quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries during the 2nd quarter valued at approximately $37,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PPG Industries during the third quarter valued at $46,000. 81.86% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

PPG Industries Trading Up 0.1 %

PPG opened at $123.45 on Friday. The firm has a market capitalization of $28.64 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The company’s 50 day simple moving average is $126.69 and its two-hundred day simple moving average is $127.20. 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.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 EPS. Analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. JPMorgan Chase & Co. reduced 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. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Mizuho cut their price target 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. Finally, Royal Bank of Canada decreased their price objective 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. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently 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.