Sompo Asset Management Co. Ltd. increased its position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,070 shares of the specialty chemicals company’s stock after buying an additional 780 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in PPG Industries were worth $1,612,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd boosted its holdings in shares of PPG Industries by 2.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 12,808 shares of the specialty chemicals company’s stock valued at $1,711,000 after acquiring an additional 284 shares in the last quarter. Lokken Investment Group LLC increased its stake in shares of PPG Industries by 9.7% during the 1st quarter. Lokken Investment Group LLC now owns 4,917 shares of the specialty chemicals company’s stock worth $657,000 after purchasing an additional 434 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of PPG Industries by 8.7% during the 1st quarter. Russell Investments Group Ltd. now owns 175,883 shares of the specialty chemicals company’s stock worth $23,406,000 after purchasing an additional 14,105 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in PPG Industries by 9.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 49,953 shares of the specialty chemicals company’s stock valued at $6,669,000 after buying an additional 4,286 shares during the last quarter. Finally, Personal CFO Solutions LLC acquired a new stake in PPG Industries in the 1st quarter worth $221,000. Institutional investors own 78.95% of the company’s stock.
Analyst Ratings Changes
PPG has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $160.00 to $165.00 in a report on Monday, April 24th. BMO Capital Markets lifted their price target on shares of PPG Industries from $158.00 to $165.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. KeyCorp boosted their price objective on shares of PPG Industries from $171.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Finally, Robert W. Baird upped their price target on shares of PPG Industries from $150.00 to $160.00 in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.47.
Insider Activity
In other PPG Industries news, CFO Vincent J. Morales sold 3,700 shares of PPG Industries stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $143.33, for a total transaction of $530,321.00. Following the completion of the sale, the chief financial officer now directly owns 22,665 shares in the company, valued at approximately $3,248,574.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vincent J. Morales sold 3,700 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $143.33, for a total transaction of $530,321.00. Following the completion of the sale, the chief financial officer now owns 22,665 shares of the company’s stock, valued at $3,248,574.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael H. Mcgarry sold 58,378 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $145.46, for a total transaction of $8,491,663.88. Following the transaction, the chairman now directly owns 195,706 shares in the company, valued at approximately $28,467,394.76. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.
PPG Industries Trading Down 0.4 %
Shares of NYSE:PPG traded down $0.57 on Thursday, hitting $138.87. The company had a trading volume of 867,449 shares, compared to its average volume of 1,503,560. The firm’s 50-day…
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