Private Wealth Advisors Inc. maintained its position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,892 shares of the specialty chemicals company’s stock at the close of the second quarter. Private Wealth Advisors Inc.’s holdings in PPG Industries were worth $538,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Waldron LP bought a new stake in PPG Industries during the first quarter worth about $292,000. Cliftonlarsonallen Wealth Advisors LLC lifted its position in shares of PPG Industries by 9.6% during the first quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 16,491 shares of the specialty chemicals company’s stock worth $1,733,000 after purchasing an additional 1,443 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of PPG Industries by 148.8% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 6,963 shares of the specialty chemicals company’s stock worth $732,000 after purchasing an additional 4,164 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of PPG Industries during the first quarter worth approximately $34,980,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of PPG Industries by 35.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 124,036 shares of the specialty chemicals company’s stock worth $13,116,000 after purchasing an additional 32,247 shares in the last quarter. 74.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPG Industries, Inc. (NYSE PPG) traded down 0.14% during mid-day trading on Friday, reaching $106.33. 665,282 shares of the company’s stock were exchanged. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.67. The company has a market cap of $27.27 billion, a PE ratio of 27.97 and a beta of 1.55. The company’s 50-day moving average price is $104.13 and its 200 day moving average price is $106.60.
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. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the company posted $1.73 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that PPG Industries, Inc. will post $6.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. PPG Industries’s payout ratio is currently 46.88%.
In other news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now directly owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the business’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 value of $1,907,953.84. Following the transaction, the insider now directly 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 insiders.
A number of brokerages have recently issued reports on PPG. Royal Bank Of Canada reiterated a “hold” rating and set a $109.00 target price on shares of PPG Industries in a research report on Wednesday. Robert W. Baird restated a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a report on Friday, September 1st. KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of PPG Industries in a report on Friday, August 25th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $115.19.
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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