BlackRock Advisors LLC Has $43,794,000 Position in PPG Industries Inc. (PPG)
BlackRock Advisors LLC raised its stake in shares of PPG Industries Inc. (NYSE:PPG) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 420,489 shares of the company’s stock after buying an additional 99,129 shares during the period. BlackRock Advisors LLC owned about 0.16% of PPG Industries worth $43,794,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of PPG Industries by 1.8% in the second quarter. Vanguard Group Inc. now owns 18,091,048 shares of the company’s stock valued at $1,884,182,000 after buying an additional 328,358 shares during the period. State Street Corp increased its position in shares of PPG Industries by 3.3% in the first quarter. State Street Corp now owns 11,616,213 shares of the company’s stock valued at $1,295,100,000 after buying an additional 368,260 shares during the period. Boston Partners increased its position in shares of PPG Industries by 0.7% in the second quarter. Boston Partners now owns 4,058,552 shares of the company’s stock valued at $422,698,000 after buying an additional 26,232 shares during the period. TIAA CREF Investment Management LLC increased its position in shares of PPG Industries by 16.0% in the first quarter. TIAA CREF Investment Management LLC now owns 3,775,963 shares of the company’s stock valued at $420,982,000 after buying an additional 519,857 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of PPG Industries by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,065,616 shares of the company’s stock valued at $229,806,000 after buying an additional 26,981 shares during the period. 72.95% of the stock is owned by institutional investors and hedge funds.
PPG Industries Inc. (NYSE:PPG) opened at 101.08 on Tuesday. The firm has a market capitalization of $26.92 billion, a price-to-earnings ratio of 18.68 and a beta of 1.44. PPG Industries Inc. has a 52-week low of $82.93 and a 52-week high of $117.00. The firm has a 50-day moving average of $104.45 and a 200-day moving average of $107.34.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The firm earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. On average, equities research analysts forecast that PPG Industries Inc. will post $6.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio is currently 29.57%.
Several research analysts recently commented on PPG shares. Morgan Stanley reiterated a “hold” rating on shares of PPG Industries in a report on Thursday, June 16th. Seaport Global Securities upgraded shares of PPG Industries from an “accumulate” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $130.00 in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Jefferies Group reiterated a “buy” rating and issued a $129.00 target price (up previously from $127.00) on shares of PPG Industries in a report on Monday, July 25th. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $121.17.
In other PPG Industries news, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the sale, the vice president now owns 11,806 shares in the company, valued at $1,228,768.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the completion of the sale, the insider now owns 69,044 shares of the company’s stock, valued at approximately $7,362,852.16. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
About PPG Industries
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.