PPG Industries, Inc. (PPG) Holdings Reduced by Gratus Capital LLC
Gratus Capital LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,316 shares of the specialty chemicals company’s stock after selling 1,580 shares during the period. Gratus Capital LLC’s holdings in PPG Industries were worth $5,141,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norinchukin Bank The grew its stake in shares of PPG Industries by 7.4% in the 3rd quarter. Norinchukin Bank The now owns 19,089 shares of the specialty chemicals company’s stock worth $2,074,000 after buying an additional 1,310 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of PPG Industries by 16.4% in the 3rd quarter. D.A. Davidson & CO. now owns 88,771 shares of the specialty chemicals company’s stock worth $9,645,000 after buying an additional 12,475 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PPG Industries by 2.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,177 shares of the specialty chemicals company’s stock worth $7,191,000 after buying an additional 1,589 shares during the last quarter. Mawer Investment Management Ltd. grew its stake in shares of PPG Industries by 4.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 750,325 shares of the specialty chemicals company’s stock worth $81,530,000 after buying an additional 29,130 shares during the last quarter. Finally, SPF Beheer BV grew its stake in shares of PPG Industries by 6.5% in the 3rd quarter. SPF Beheer BV now owns 663,731 shares of the specialty chemicals company’s stock worth $72,121,000 after buying an additional 40,318 shares during the last quarter. 73.52% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on PPG shares. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Credit Suisse Group set a $119.00 price target on PPG Industries and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup Inc. upped their price target on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. KeyCorp reiterated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a research note on Friday, August 25th. Finally, Robert W. Baird increased their target price on PPG Industries from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $119.36.
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Shares of PPG Industries, Inc. (NYSE:PPG) traded down $0.07 during trading on Thursday, reaching $115.27. The company had a trading volume of 1,502,437 shares, compared to its average volume of 1,450,445. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The company has a market cap of $29,351.25, a PE ratio of 19.58, a P/E/G ratio of 2.29 and a beta of 1.59.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business posted $1.56 EPS. PPG Industries’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be paid a $0.45 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. PPG Industries’s payout ratio is presently 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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