Public Employees Retirement Association of Colorado reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,194 shares of the specialty chemicals company’s stock after selling 85 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PPG Industries were worth $5,273,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in PPG Industries by 43.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 15,620 shares of the specialty chemicals company’s stock worth $1,832,000 after buying an additional 4,763 shares during the last quarter. Founders Financial Securities LLC grew its stake in PPG Industries by 29.1% during the 2nd quarter. Founders Financial Securities LLC now owns 3,878 shares of the specialty chemicals company’s stock worth $411,000 after buying an additional 873 shares during the last quarter. Wasatch Advisors Inc. bought a new position in PPG Industries during the 2nd quarter worth $2,482,000. Cornerstone Wealth Management LLC boosted its position in PPG Industries by 48.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,131 shares of the specialty chemicals company’s stock worth $382,000 after acquiring an additional 1,024 shares during the period. Finally, Artemis Investment Management LLP boosted its position in PPG Industries by 33.5% during the 3rd quarter. Artemis Investment Management LLP now owns 321,240 shares of the specialty chemicals company’s stock worth $39,185,000 after acquiring an additional 80,572 shares during the period. Hedge funds and other institutional investors own 77.11% of the company’s stock.
NYSE:PPG opened at $143.04 on Friday. The firm has a market capitalization of $33.79 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 4.01 and a beta of 1.22. PPG Industries, Inc. has a 1-year low of $69.77 and a 1-year high of $149.34. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $134.71 and its 200 day moving average price is $116.12.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Monday, October 19th. The specialty chemicals company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.01. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.60 billion. PPG Industries had a return on equity of 25.46% and a net margin of 7.85%. PPG Industries’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 5.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, November 9th. PPG Industries’s payout ratio is 34.73%.
In other PPG Industries news, CEO Michael H. Mcgarry sold 81,022 shares of the company’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $133.65, for a total value of $10,828,590.30. Following the transaction, the chief executive officer now directly owns 173,940 shares of the company’s stock, valued at approximately $23,247,081. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy M. Knavish sold 15,300 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $120.69, for a total value of $1,846,557.00. Over the last ninety days, insiders sold 100,172 shares of company stock worth $13,193,588. Insiders own 0.41% of the company’s stock.
A number of research analysts have issued reports on PPG shares. Credit Suisse Group boosted their price target on PPG Industries from $130.00 to $136.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. TheStreet upgraded PPG Industries from a “c+” rating to a “b-” rating in a report on Wednesday, August 26th. BMO Capital Markets upped their price objective on PPG Industries from $173.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Finally, UBS Group upped their price objective on PPG Industries from $132.00 to $142.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. PPG Industries has a consensus rating of “Buy” and a consensus target price of $132.44.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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