National Planning Corp Has $498,000 Stake in PPG Industries, Inc. (NYSE:PPG)
National Planning Corp increased its stake in PPG Industries, Inc. (NYSE:PPG) by 12.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,506 shares of the specialty chemicals company’s stock after buying an additional 500 shares during the period. National Planning Corp’s holdings in PPG Industries were worth $498,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. V Wealth Management LLC bought a new stake in PPG Industries during the second quarter valued at approximately $112,000. State of Alaska Department of Revenue bought a new stake in PPG Industries during the second quarter valued at approximately $113,000. Baystate Wealth Management LLC boosted its stake in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 40 shares during the period. Coconut Grove Bank boosted its stake in PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 600 shares during the period. Finally, Global X Management Co. LLC boosted its stake in PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 249 shares during the period. Institutional investors and hedge funds own 71.81% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE PPG) opened at 100.73 on Friday. The firm has a 50-day moving average price of $108.24 and a 200 day moving average price of $106.17. The firm has a market cap of $25.84 billion, a price-to-earnings ratio of 26.50 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 posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The company 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 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 8th. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s payout ratio is currently 46.88%.
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Several research firms have recently commented on PPG. Royal Bank Of Canada restated a “hold” rating and set a $109.00 price target on shares of PPG Industries in a research note on Wednesday. BidaskClub cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. SunTrust Banks, Inc. cut PPG Industries from a “buy” rating to a “hold” rating and cut their price target for the stock from $120.00 to $113.00 in a research note on Monday, July 24th. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Bank of America Corporation lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a report on Monday, July 24th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. PPG Industries currently has an average rating of “Hold” and a consensus target price of $114.50.
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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