As Ppg Industries (PPG) Valuation Rose, Nordea Investment Management Ab Trimmed Holding by $23.94 Million

October 13, 2018 - By Darrin Black

PPG Industries, Inc. (NYSE:PPG) LogoInvestors sentiment decreased to 0.81 in 2018 Q2. Its down 0.17, from 0.98 in 2018Q1. It dropped, as 56 investors sold PPG shares while 250 reduced holdings. 69 funds opened positions while 179 raised stakes. 181.01 million shares or 1.16% less from 183.14 million shares in 2018Q1 were reported. Ubs Asset Management Americas has invested 0% of its portfolio in PPG Industries, Inc. (NYSE:PPG). Sun Life holds 3,610 shares. Rampart Invest Management Llc owns 20,159 shares for 0.2% of their portfolio. Azimuth Capital Mngmt Limited Liability accumulated 10,484 shares or 0.08% of the stock. First Allied Advisory Services Inc accumulated 0.05% or 11,891 shares. Jacobs Levy Equity Management reported 69,680 shares stake. Manchester Capital Mngmt Ltd reported 2,944 shares. Covington Cap Mngmt reported 587 shares stake. 16,191 were reported by Fdx Advsrs Incorporated. Cambridge Inv Rech Advsr Incorporated holds 0.03% or 29,539 shares. San Francisco Sentry Investment Gru (Ca) accumulated 0.26% or 6,125 shares. American Intl Gp invested in 0.03% or 78,500 shares. Security National Trust stated it has 28,071 shares. Caisse De Depot Et Placement Du Quebec owns 0.01% invested in PPG Industries, Inc. (NYSE:PPG) for 31,754 shares. Rodgers Brothers reported 0.8% in PPG Industries, Inc. (NYSE:PPG).

Nordea Investment Management Ab decreased its stake in Ppg Industries (PPG) by 11.34% based on its latest 2018Q2 regulatory filing with the SEC. Nordea Investment Management Ab sold 232,439 shares as the company’s stock rose 8.45% with the market. The institutional investor held 1.82M shares of the basic industries company at the end of 2018Q2, valued at $188.57 million, down from 2.05M at the end of the previous reported quarter. Nordea Investment Management Ab who had been investing in Ppg Industries for a number of months, seems to be less bullish one the $23.01B market cap company. The stock decreased 1.34% or $1.29 during the last trading session, reaching $95.09. About 2.45M shares traded or 49.35% up from the average. PPG Industries, Inc. (NYSE:PPG) has risen 5.01% since October 13, 2017 and is uptrending. It has underperformed by 10.61% the S&P500.

Nordea Investment Management Ab, which manages about $41.67B US Long portfolio, upped its stake in Hilton Worldwide Holdings by 191,069 shares to 249,466 shares, valued at $19.75M in 2018Q2, according to the filing. It also increased its holding in Schlumberger (NYSE:SLB) by 71,777 shares in the quarter, for a total of 527,579 shares, and has risen its stake in Tractor Supply (NASDAQ:TSCO).

Analysts await PPG Industries, Inc. (NYSE:PPG) to report earnings on October, 18. They expect $1.59 earnings per share, up 4.61 % or $0.07 from last year’s $1.52 per share. PPG’s profit will be $384.80 million for 14.95 P/E if the $1.59 EPS becomes a reality. After $1.90 actual earnings per share reported by PPG Industries, Inc. for the previous quarter, Wall Street now forecasts -16.32 % negative EPS growth.

More notable recent PPG Industries, Inc. (NYSE:PPG) news were published by: Seekingalpha.com which released: “PPG Industries -9% after issuing downside Q3 earnings, revenue guidance” on October 08, 2018, also Businesswire.com with their article: “PPG Completes COLORFUL COMMUNITIES Project at Flint Development Center in Michigan” published on October 05, 2018, Businesswire.com published: “PPG’s Delaware, Ohio, Plant to Host Students on National Manufacturing Day” on October 05, 2018. More interesting news about PPG Industries, Inc. (NYSE:PPG) were released by: Bizjournals.com and their article: “Here’s what activist investor Trian may mean for PPG” published on October 10, 2018 as well as Seekingalpha.com‘s news article titled: “Fed’s Macro Approach To The Economy Is Incorrect – Cramer’s Mad Money (10/11/18)” with publication date: October 12, 2018.

PPG Industries, Inc. (NYSE:PPG) Ratings Coverage

Among 12 analysts covering PPG Industries (NYSE:PPG), 5 have Buy rating, 0 Sell and 7 Hold. Therefore 42% are positive. PPG Industries had 20 analyst reports since April 17, 2018 according to SRatingsIntel. The firm earned “Buy” rating on Tuesday, October 9 by Deutsche Bank. KeyBanc Capital Markets maintained PPG Industries, Inc. (NYSE:PPG) rating on Monday, July 23. KeyBanc Capital Markets has “Overweight” rating and $128 target. The stock has “Neutral” rating by Citigroup on Wednesday, July 11. The stock of PPG Industries, Inc. (NYSE:PPG) has “Outperform” rating given on Friday, April 20 by Credit Suisse. JP Morgan maintained PPG Industries, Inc. (NYSE:PPG) on Friday, June 1 with “Overweight” rating. The stock has “Overweight” rating by JP Morgan on Wednesday, April 25. The firm has “Buy” rating given on Wednesday, April 25 by J.P. Morgan. RBC Capital Markets maintained PPG Industries, Inc. (NYSE:PPG) on Monday, April 23 with “Hold” rating. Seaport Global maintained the shares of PPG in report on Tuesday, April 17 with “Hold” rating. The stock of PPG Industries, Inc. (NYSE:PPG) has “Neutral” rating given on Tuesday, April 24 by Citigroup.

PPG Industries, Inc. (NYSE:PPG) Institutional Positions Chart

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