PGGM Investments raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 66.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 425,167 shares of the specialty chemicals company’s stock after buying an additional 169,299 shares during the quarter. PGGM Investments owned about 0.17% of PPG Industries worth $46,199,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PPG. Waldron LP bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $292,000. AXA grew its position in shares of PPG Industries by 36.4% in the 1st quarter. AXA now owns 562,228 shares of the specialty chemicals company’s stock worth $59,079,000 after buying an additional 150,175 shares during the last quarter. Roundview Capital LLC grew its position in shares of PPG Industries by 57.4% in the 1st quarter. Roundview Capital LLC now owns 10,558 shares of the specialty chemicals company’s stock worth $1,109,000 after buying an additional 3,850 shares during the last quarter. MAI Capital Management bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $206,000. Finally, Burney Co. grew its position in shares of PPG Industries by 15.3% in the 1st quarter. Burney Co. now owns 65,754 shares of the specialty chemicals company’s stock worth $6,909,000 after buying an additional 8,717 shares during the last quarter. Hedge funds and other institutional investors own 73.93% of the company’s stock.
In other news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the sale, the vice president now owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the sale, the insider now directly owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on PPG shares. Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research report on Thursday, July 6th. Credit Suisse Group restated an “outperform” rating and set a $114.00 price target (up from $109.00) on shares of PPG Industries in a research report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG lifted their price target on PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, July 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $118.43.
PPG Industries, Inc. (PPG) traded up 3.02% during midday trading on Friday, reaching $117.76. The company’s stock had a trading volume of 2,265,914 shares. The firm has a 50 day moving average price of $109.49 and a 200-day moving average price of $107.98. The company has a market cap of $30.20 billion, a P/E ratio of 30.98 and a beta of 1.55. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $117.80.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 28.77% and a net margin of 12.21%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.56 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post $5.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.80 annualized dividend and a yield of 1.53%. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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