PPG Industries, Inc. (NYSE:PPG) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its position in PPG Industries, Inc. (NYSE:PPG) by 12.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,866 shares of the specialty chemicals company’s stock after selling 666 shares during the quarter. Cypress Capital Group’s holdings in PPG Industries were worth $613,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $29,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $29,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the first quarter worth approximately $29,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of PPG traded up $1.16 during trading hours on Monday, reaching $127.69. 53,977 shares of the company traded hands, compared to its average volume of 1,634,161. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $29.94 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 1.65 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a fifty day simple moving average of $125.53 and a 200 day simple moving average of $132.68.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.13%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

Analyst Ratings Changes

Several research firms have recently commented on PPG. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets cut their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. KeyCorp cut their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.