Bank of Stockton Sells 139 Shares of PPG Industries, Inc. (NYSE:PPG)

Bank of Stockton cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,342 shares of the specialty chemicals company’s stock after selling 139 shares during the quarter. Bank of Stockton’s holdings in PPG Industries were worth $673,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. LRI Investments LLC raised its stake in PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 320 shares during the period. Grove Bank & Trust raised its position in shares of PPG Industries by 29.3% during the second quarter. Grove Bank & Trust now owns 4,969 shares of the specialty chemicals company’s stock valued at $626,000 after buying an additional 1,126 shares during the last quarter. Quotient Wealth Partners LLC lifted its holdings in shares of PPG Industries by 80.7% in the second quarter. Quotient Wealth Partners LLC now owns 3,392 shares of the specialty chemicals company’s stock worth $427,000 after buying an additional 1,515 shares in the last quarter. &PARTNERS boosted its position in shares of PPG Industries by 561.6% during the second quarter. &PARTNERS now owns 25,453 shares of the specialty chemicals company’s stock worth $3,207,000 after acquiring an additional 21,606 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in PPG Industries during the second quarter valued at $525,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. StockNews.com raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Citigroup decreased their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Barclays cut their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Finally, UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Up 1.1 %

NYSE PPG traded up $1.37 during trading on Friday, hitting $126.53. The stock had a trading volume of 1,092,894 shares, compared to its average volume of 1,643,855. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The stock has a 50 day simple moving average of $125.53 and a 200 day simple moving average of $132.72. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 1.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the business earned $2.25 EPS. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. Sell-side analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

About PPG Industries

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.