Municipal Employees Retirement System of Michigan Has $932,000 Position in PPG Industries, Inc. (PPG)

Municipal Employees Retirement System of Michigan continued to hold its stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,480 shares of the specialty chemicals company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in PPG Industries were worth $932,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Baystate Wealth Management LLC increased its stake in shares of 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 worth $109,000 after buying an additional 40 shares during the period. V Wealth Management LLC acquired a new stake in shares of PPG Industries during the second quarter worth about $112,000. State of Alaska Department of Revenue acquired a new stake in shares of PPG Industries during the second quarter worth about $113,000. Coconut Grove Bank increased its stake in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the period. Institutional investors own 71.81% of the company’s stock.

PPG Industries, Inc. (NYSE:PPG) opened at 100.73 on Friday. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The company has a market capitalization of $25.84 billion, a PE ratio of 26.50 and a beta of 1.54. The stock’s 50 day moving average price is $108.24 and its 200-day moving average price is $106.17.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.79%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s payout ratio is presently 46.88%.

TRADEMARK VIOLATION NOTICE: “Municipal Employees Retirement System of Michigan Has $932,000 Position in PPG Industries, Inc. (PPG)” was published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this story on another website, it was illegally copied and republished in violation of US & international copyright and trademark laws. The original version of this story can be read at https://transcriptdaily.com/2017/08/13/municipal-employees-retirement-system-of-michigan-has-932000-position-in-ppg-industries-inc-ppg.html.

A number of equities research analysts recently issued reports on PPG shares. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price objective (up previously from $113.00) on shares of PPG Industries in a research report on Tuesday, April 18th. Credit Suisse Group set a $113.00 price objective on PPG Industries and gave the stock a “buy” rating in a research report on Sunday, July 23rd. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. PPG Industries has an average rating of “Hold” and a consensus price target of $114.50.

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.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply