Umpqua Bank Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Umpqua Bank lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,179 shares of the specialty chemicals company’s stock after buying an additional 371 shares during the quarter. Umpqua Bank’s holdings in PPG Industries were worth $1,216,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vest Financial LLC boosted its position in shares of PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after acquiring an additional 75,620 shares during the last quarter. BDF Gestion purchased a new stake in PPG Industries in the 2nd quarter valued at about $3,452,000. State Board of Administration of Florida Retirement System grew its stake in PPG Industries by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after buying an additional 4,222,402 shares during the period. Finally, Ritholtz Wealth Management purchased a new position in PPG Industries during the 3rd quarter valued at about $604,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 0.8 %

PPG traded up $0.98 during mid-day trading on Wednesday, hitting $125.63. 218,829 shares of the stock were exchanged, compared to its average volume of 1,584,208. The firm’s fifty day moving average is $127.90 and its two-hundred day moving average is $128.12. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a market cap of $29.15 billion, a PE ratio of 19.75, a PEG ratio of 1.90 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the previous year, the firm earned $2.07 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. KeyCorp decreased their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. 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. Finally, Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Profile

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.