Amica Mutual Insurance Co. Has $1.36 Million Holdings in PPG Industries, Inc. (PPG)
Amica Mutual Insurance Co. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,504 shares of the specialty chemicals company’s stock after selling 4,178 shares during the quarter. Amica Mutual Insurance Co.’s holdings in PPG Industries were worth $1,359,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PPG. State of Alaska Department of Revenue purchased a new position in shares of PPG Industries in the second quarter valued at about $113,000. Investment Partners Ltd. OH ADV increased its position in shares of PPG Industries by 0.3% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock valued at $273,000 after acquiring an additional 7 shares during the period. Parametrica Management Ltd purchased a new position in shares of PPG Industries in the second quarter valued at about $369,000. Cornerstone Advisors Inc. increased its position in shares of PPG Industries by 17.7% in the second quarter. Cornerstone Advisors Inc. now owns 1,891 shares of the specialty chemicals company’s stock valued at $208,000 after acquiring an additional 285 shares during the period. Finally, Stack Financial Management Inc increased its position in shares of PPG Industries by 0.6% in the second quarter. Stack Financial Management Inc now owns 117,600 shares of the specialty chemicals company’s stock valued at $12,931,000 after acquiring an additional 680 shares during the period. Hedge funds and other institutional investors own 73.52% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE:PPG) traded up $0.83 during midday trading on Friday, hitting $116.10. 438,775 shares of the company traded hands, compared to its average volume of 1,052,990. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. The stock has a market capitalization of $29,333.44, a PE ratio of 19.57, a P/E/G ratio of 2.29 and a beta of 1.59.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the company earned $1.56 earnings per share. PPG Industries’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s payout ratio is currently 26.12%.
A number of research firms have issued reports on PPG. BidaskClub cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research report on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and set a $109.00 price target on shares of PPG Industries in a research report on Wednesday, September 13th. Bank of America Corporation set a $120.00 price target on shares of PPG Industries and gave the company a “hold” rating in a research report on Friday, October 20th. Finally, Citigroup Inc. boosted their price target on shares of PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $119.36.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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