Brown Advisory Inc. Has $3,529,000 Stake in PPG Industries Inc. (PPG)
Brown Advisory Inc. boosted its stake in PPG Industries Inc. (NYSE:PPG) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,878 shares of the company’s stock after buying an additional 151 shares during the period. Brown Advisory Inc.’s holdings in PPG Industries were worth $3,529,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Hyman Charles D purchased a new stake in PPG Industries during the first quarter valued at about $468,000. Carderock Capital Management Inc. increased its stake in PPG Industries by 49.6% in the first quarter. Carderock Capital Management Inc. now owns 30,574 shares of the company’s stock valued at $3,409,000 after buying an additional 10,137 shares during the last quarter. IFP Advisors Inc increased its stake in PPG Industries by 8.8% in the first quarter. IFP Advisors Inc now owns 6,474 shares of the company’s stock valued at $722,000 after buying an additional 526 shares during the last quarter. Virginia Retirement System bought a new stake in PPG Industries during the first quarter valued at $10,131,000. Finally, Nisa Investment Advisors L.L.C. increased its stake in PPG Industries by 17.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 43,910 shares of the company’s stock valued at $4,896,000 after buying an additional 6,400 shares during the last quarter. 73.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPG Industries Inc. (NYSE:PPG) traded up 0.47% during mid-day trading on Wednesday, hitting $101.74. 252,536 shares of the stock were exchanged. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of 18.80 and a beta of 1.44. PPG Industries Inc. has a 1-year low of $82.93 and a 1-year high of $117.00. The company’s 50-day moving average is $104.35 and its 200-day moving average is $107.33.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The company earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter in the prior year, the company posted $1.67 EPS. The business’s revenue was down .9% on a year-over-year basis. Equities research analysts anticipate that PPG Industries Inc. will post $6.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 10th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio (DPR) is currently 29.57%.
PPG has been the subject of several research analyst reports. Credit Suisse Group AG reissued a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research report on Tuesday, September 13th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research report on Friday, June 17th. Jefferies Group reissued a “buy” rating on shares of PPG Industries in a research report on Wednesday, July 6th. Longbow Research raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, June 23rd. Finally, Seaport Global Securities raised shares of PPG Industries from an “accumulate” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. PPG Industries presently has a consensus rating of “Buy” and a consensus price target of $121.17.
In other PPG Industries news, VP Timothy M. Knavish sold 9,300 shares of the firm’s stock in a transaction dated 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 approximately $1,228,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the firm’s stock in a transaction dated 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. Corporate insiders own 0.68% of the company’s stock.
PPG Industries Company Profile
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.
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