Andra AP fonden Lowers Position in PPG Industries, Inc. (PPG)
Andra AP fonden reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,600 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Andra AP fonden’s holdings in PPG Industries were worth $3,695,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PPG. LS Investment Advisors LLC increased its position in PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock valued at $3,266,000 after buying an additional 4,799 shares during the period. Swiss National Bank increased its position in PPG Industries by 26.1% in the first quarter. Swiss National Bank now owns 935,360 shares of the specialty chemicals company’s stock valued at $98,288,000 after buying an additional 193,800 shares during the period. BlackRock Inc. increased its position in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after buying an additional 13,902,595 shares during the period. AE Wealth Management LLC acquired a new position in PPG Industries during the first quarter valued at approximately $288,000. Finally, Whittier Trust Co. increased its position in PPG Industries by 1.0% in the first quarter. Whittier Trust Co. now owns 12,481 shares of the specialty chemicals company’s stock valued at $1,312,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 74.17% of the company’s stock.
PPG Industries, Inc. (NYSE:PPG) opened at 103.81 on Thursday. The stock has a 50 day moving average of $106.28 and a 200-day moving average of $106.32. The company has a market cap of $26.63 billion, a PE ratio of 27.31 and a beta of 1.54. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.73%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
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Several research firms recently weighed in on PPG. Bank of America Corporation cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research report on Monday, July 24th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Thursday, July 6th. Deutsche Bank AG upped their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. PPG Industries currently has an average rating of “Hold” and a consensus price target of $115.20.
In other news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the sale, the vice president now directly owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the sale, the insider now directly owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. 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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