Boston Private Wealth LLC boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,225 shares of the specialty chemicals company’s stock after purchasing an additional 171 shares during the quarter. Boston Private Wealth LLC’s holdings in PPG Industries were worth $7,848,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PPG. Cornerstone Advisors Inc. raised its holdings in shares of PPG Industries by 13.3% during the second quarter. Cornerstone Advisors Inc. now owns 749 shares of the specialty chemicals company’s stock valued at $87,000 after acquiring an additional 88 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of PPG Industries by 0.4% during the third quarter. CIBC Asset Management Inc now owns 21,807 shares of the specialty chemicals company’s stock valued at $2,584,000 after acquiring an additional 88 shares during the last quarter. OLD Dominion Capital Management Inc. raised its holdings in shares of PPG Industries by 0.9% during the third quarter. OLD Dominion Capital Management Inc. now owns 10,631 shares of the specialty chemicals company’s stock valued at $1,260,000 after acquiring an additional 90 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of PPG Industries by 2.7% during the second quarter. Wedbush Securities Inc. now owns 3,828 shares of the specialty chemicals company’s stock valued at $447,000 after acquiring an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its holdings in shares of PPG Industries by 25.7% during the third quarter. FinTrust Capital Advisors LLC now owns 514 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 77.25% of the company’s stock.
NYSE:PPG opened at $129.77 on Thursday. PPG Industries, Inc. has a one year low of $94.41 and a one year high of $130.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49. The stock has a market cap of $29.66 billion, a PE ratio of 21.92, a P/E/G ratio of 2.15 and a beta of 1.24. The stock has a 50 day moving average price of $120.65 and a 200 day moving average price of $115.77.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.61 by $0.06. PPG Industries had a return on equity of 28.36% and a net margin of 8.00%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.89 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that PPG Industries, Inc. will post 6.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.04 annualized dividend and a yield of 1.57%. PPG Industries’s dividend payout ratio (DPR) is 34.46%.
A number of equities analysts have commented on PPG shares. Wells Fargo & Co started coverage on PPG Industries in a report on Tuesday, October 15th. They set an “outperform” rating and a $140.00 target price for the company. Berenberg Bank started coverage on PPG Industries in a report on Wednesday. They set a “buy” rating and a $150.00 target price for the company. Morgan Stanley reissued an “equal weight” rating and set a $130.00 target price on shares of PPG Industries in a report on Friday, November 1st. Royal Bank of Canada set a $132.00 price target on PPG Industries and gave the company a “buy” rating in a report on Friday, October 18th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $123.00 price target on shares of PPG Industries in a report on Friday, July 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. PPG Industries has a consensus rating of “Hold” and a consensus price target of $128.44.
In other PPG Industries news, CEO Michael H. Mcgarry sold 12,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the completion of the sale, the chief executive officer now owns 131,434 shares of the company’s stock, valued at $15,772,080. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael H. Mcgarry sold 11,916 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $125.00, for a total value of $1,489,500.00. Following the sale, the chief executive officer now directly owns 131,350 shares of the company’s stock, valued at approximately $16,418,750. The disclosure for this sale can be found here. 0.37% of the stock is owned by company insiders.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
Read More: Return on Investment (ROI)
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