IFP Advisors Inc Sells 657 Shares of PPG Industries, Inc. (PPG)
IFP Advisors Inc reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 9.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,062 shares of the specialty chemicals company’s stock after selling 657 shares during the period. IFP Advisors Inc’s holdings in PPG Industries were worth $659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. E&G Advisors LP purchased a new position in shares of PPG Industries in the 3rd quarter worth $250,000. Gillespie Robinson & Grimm Inc. grew its stake in shares of PPG Industries by 6.8% in the 3rd quarter. Gillespie Robinson & Grimm Inc. now owns 159,140 shares of the specialty chemicals company’s stock worth $17,292,000 after buying an additional 10,160 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of PPG Industries by 30.0% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 13,000 shares of the specialty chemicals company’s stock worth $1,413,000 after buying an additional 3,000 shares in the last quarter. 1ST Source Bank grew its stake in shares of PPG Industries by 14.1% in the 3rd quarter. 1ST Source Bank now owns 4,373 shares of the specialty chemicals company’s stock worth $475,000 after buying an additional 541 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of PPG Industries in the 3rd quarter worth $2,844,000. 74.51% of the stock is owned by institutional investors and hedge funds.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction dated 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 approximately $1,593,207.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction 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 $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
PPG has been the subject of a number of recent research reports. Credit Suisse Group reissued an “outperform” rating and issued a $114.00 price objective (up from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG lifted their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. SunTrust Banks, Inc. cut shares of PPG Industries from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $120.00 to $113.00 in a research note on Monday, July 24th. Finally, 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 note on Monday, July 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $119.36.
Shares of PPG Industries, Inc. (NYSE PPG) opened at $116.53 on Friday. The stock has a market cap of $29,654.09, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.32 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. PPG Industries, Inc. has a 52-week low of $90.88 and a 52-week high of $119.85.
PPG Industries (NYSE:PPG) last released its quarterly earnings data 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. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. equities research analysts anticipate that PPG Industries, Inc. will post 5.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a yield of 1.54%. PPG Industries’s dividend payout ratio (DPR) is 26.12%.
PPG Industries Company Profile
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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