PPG Industries, Inc. $PPG Stock Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in PPG Industries, Inc. (NYSE:PPG) by 2.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 738,046 shares of the specialty chemicals company’s stock after purchasing an additional 21,097 shares during the period. Russell Investments Group Ltd.’s holdings in PPG Industries were worth $77,095,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in PPG Industries during the second quarter valued at approximately $2,856,392,000. Pzena Investment Management LLC bought a new position in PPG Industries during the 2nd quarter worth approximately $946,964,000. Bank of New York Mellon Corp bought a new position in PPG Industries during the 2nd quarter worth approximately $318,870,000. Bank of America Corp DE acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $278,965,000. Finally, First Trust Advisors LP grew its position in shares of PPG Industries by 321.4% in the 1st quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock worth $244,462,000 after acquiring an additional 1,744,528 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Transactions at PPG Industries

In related news, VP Chancey Hagerty sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at $1,241,013.54. This represents a 20.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PPG shares. UBS Group upped their price target on PPG Industries from $116.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $137.00 price objective on shares of PPG Industries in a report on Thursday, October 29th. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Citigroup boosted their target price on shares of PPG Industries from $118.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $128.00 target price on shares of PPG Industries in a report on Friday, October 9th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.29.

PPG Industries Stock Performance

PPG stock traded up $0.31 during midday trading on Friday, reaching $122.66. The company had a trading volume of 1,721,475 shares, compared to its average volume of 2,150,408. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $111.02 and a 200 day moving average price of $113.13. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The firm has a market capitalization of $27.09 billion, a PE ratio of 17.52, a P/E/G ratio of 2.10 and a beta of 1.00.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.12 by $0.13. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.28 billion. PPG Industries had a return on equity of 20.90% and a net margin of 9.41%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 earnings per share. Analysts anticipate that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. PPG Industries’s payout ratio is currently 42.29%.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.