Yorktown Management & Research Co Inc maintained its position in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,600 shares of the specialty chemicals company’s stock at the end of the 2nd quarter. Yorktown Management & Research Co Inc’s holdings in PPG Industries were worth $286,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. BT Investment Management Ltd purchased a new stake in shares of PPG Industries during the second quarter worth $693,000. Amalgamated Bank increased its holdings in shares of PPG Industries by 50.1% in the second quarter. Amalgamated Bank now owns 30,126 shares of the specialty chemicals company’s stock worth $3,313,000 after purchasing an additional 10,049 shares during the period. Bruderman Asset Management LLC bought a new position in shares of PPG Industries in the second quarter worth $105,000. TCI Wealth Advisors Inc. increased its holdings in shares of PPG Industries by 1.6% in the second quarter. TCI Wealth Advisors Inc. now owns 3,931 shares of the specialty chemicals company’s stock worth $432,000 after purchasing an additional 61 shares during the period. Finally, Norinchukin Bank The increased its holdings in shares of PPG Industries by 6.4% in the second quarter. Norinchukin Bank The now owns 17,779 shares of the specialty chemicals company’s stock worth $1,955,000 after purchasing an additional 1,072 shares during the period. Hedge funds and other institutional investors own 74.17% of the company’s stock.
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Several research firms have recently weighed in on PPG. SunTrust Banks, Inc. cut shares of PPG Industries from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Friday. BidaskClub cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a report on Wednesday, August 9th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $115.19.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction 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 owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the sale, 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 owned by insiders.
PPG Industries, Inc. (NYSE:PPG) traded down 0.17% on Friday, reaching $106.30. The company had a trading volume of 1,856,416 shares. The stock has a market capitalization of $27.26 billion, a PE ratio of 27.97 and a beta of 1.55. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The stock’s 50 day moving average price is $104.13 and its 200-day moving average price is $106.63.
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. Equities analysts expect that PPG Industries, Inc. will post $6.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were paid a $0.45 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.69%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s payout ratio is presently 46.88%.
About PPG Industries
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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