PGGM Investments decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 255,868 shares of the specialty chemicals company’s stock after selling 3,716 shares during the period. PGGM Investments owned approximately 0.10% of PPG Industries worth $28,135,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Investment Partners Ltd. OH ADV boosted its stake in shares of PPG Industries by 0.3% in the first quarter. Investment Partners Ltd. OH ADV now owns 2,478 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 8 shares during the last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of PPG Industries by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock worth $637,000 after buying an additional 15 shares during the last quarter. Linscomb & Williams Inc. boosted its stake in shares of PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock worth $307,000 after buying an additional 31 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 40 shares in the last quarter. Finally, Atlas Brown Inc. boosted its stake in PPG Industries by 2.0% in the second quarter. Atlas Brown Inc. now owns 2,755 shares of the specialty chemicals company’s stock valued at $303,000 after buying an additional 55 shares in the last quarter. Institutional investors own 71.54% of the company’s stock.
PPG Industries, Inc. (PPG) opened at 103.74 on Thursday. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a market cap of $26.61 billion, a price-to-earnings ratio of 27.29 and a beta of 1.54. The company’s 50 day moving average is $107.59 and its 200 day moving average is $106.23.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.83. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. PPG Industries’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Analysts forecast that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.74%. PPG Industries’s dividend payout ratio is presently 46.88%.
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Several analysts have issued reports on the stock. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group reiterated an “outperform” rating and issued a $114.00 target price (up from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.61 to $136.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Barclays PLC increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $114.50.
In related news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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