Pacer Advisors Inc. Purchases 1,164 Shares of PPG Industries, Inc. (NYSE:PPG)

Pacer Advisors Inc. raised its position in PPG Industries, Inc. (NYSE:PPGGet Rating) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,640 shares of the specialty chemicals company’s stock after buying an additional 1,164 shares during the quarter. Pacer Advisors Inc.’s holdings in PPG Industries were worth $2,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of PPG Industries by 3.4% in the fourth quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock valued at $3,699,182,000 after buying an additional 698,561 shares during the period. State Street Corp grew its position in shares of PPG Industries by 3.0% in the fourth quarter. State Street Corp now owns 11,498,215 shares of the specialty chemicals company’s stock valued at $1,982,752,000 after purchasing an additional 338,189 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PPG Industries by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,613 shares of the specialty chemicals company’s stock valued at $738,738,000 after purchasing an additional 134,125 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PPG Industries by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,127,625 shares of the specialty chemicals company’s stock valued at $539,330,000 after purchasing an additional 21,358 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PPG Industries in the fourth quarter valued at $275,588,000. Hedge funds and other institutional investors own 79.12% of the company’s stock.

PPG Industries stock opened at $114.36 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $27.01 billion, a P/E ratio of 25.36, a PEG ratio of 1.30 and a beta of 1.15. The stock’s 50 day moving average is $124.08 and its 200 day moving average is $139.90. PPG Industries, Inc. has a twelve month low of $107.06 and a twelve month high of $177.32.

PPG Industries (NYSE:PPGGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.25. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.24 billion. PPG Industries had a return on equity of 23.41% and a net margin of 6.26%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 7.12 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Tuesday, May 10th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, May 9th. This represents a $2.36 annualized dividend and a dividend yield of 2.06%. PPG Industries’s payout ratio is currently 52.33%.

In related news, EVP Rebecca B. Liebert sold 30,086 shares of the company’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $129.90, for a total value of $3,908,171.40. Following the sale, the executive vice president now owns 24,693 shares in the company, valued at approximately $3,207,620.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Several equities analysts have recently weighed in on the company. Barclays reduced their price target on PPG Industries from $175.00 to $150.00 in a research report on Monday, May 2nd. Jefferies Financial Group cut their price objective on PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, March 9th. TheStreet cut PPG Industries from a “b-” rating to a “c” rating in a report on Monday, May 23rd. StockNews.com began coverage on PPG Industries in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $180.00 to $155.00 in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $164.49.

About PPG Industries (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Further Reading

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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