Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,034 shares of the specialty chemicals company’s stock after selling 37 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PPG Industries were worth $2,093,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of PPG. Oppenheimer Asset Management Inc. lifted its holdings in shares of PPG Industries by 0.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 41,311 shares of the specialty chemicals company’s stock valued at $4,542,000 after purchasing an additional 241 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of PPG Industries by 1.8% during the second quarter. Oppenheimer & Co. Inc. now owns 6,466 shares of the specialty chemicals company’s stock valued at $711,000 after purchasing an additional 114 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new position in shares of PPG Industries during the second quarter valued at approximately $9,181,000. Swiss National Bank raised its holdings in PPG Industries by 0.4% in the 2nd quarter. Swiss National Bank now owns 938,860 shares of the specialty chemicals company’s stock worth $103,237,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in PPG Industries by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock worth $403,000 after acquiring an additional 54 shares during the last quarter. 73.92% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on PPG shares. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a report on Friday, May 26th. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating and issued a $114.00 price objective (up from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG boosted their target price on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $115.19.
Shares of PPG Industries, Inc. (NYSE PPG) opened at 108.76 on Friday. The stock has a market cap of $27.89 billion, a PE ratio of 28.61 and a beta of 1.55. The firm has a 50-day moving average of $104.24 and a 200 day moving average of $106.76. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the company earned $1.73 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post $6.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were given a $0.45 dividend. The ex-dividend date was Tuesday, August 8th. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.66%. PPG Industries’s dividend payout ratio (DPR) is currently 46.88%.
In related news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the sale, the vice president now directly owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.
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PPG Industries 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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