PPG Industries, Inc. (PPG) Position Maintained by HighPoint Advisor Group LLC
HighPoint Advisor Group LLC continued to hold its stake in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,130 shares of the specialty chemicals company’s stock at the close of the 2nd quarter. HighPoint Advisor Group LLC’s holdings in PPG Industries were worth $942,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC grew its holdings in shares of PPG Industries by 10,896.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 10,896 shares during the period. Bruderman Asset Management LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $105,000. V Wealth Management LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $112,000. State of Alaska Department of Revenue purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $113,000. Finally, Global X Management Co. LLC grew its holdings in shares of PPG Industries by 26.7% during the 1st quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 73.92% of the company’s stock.
PPG has been the subject of a number of research reports. SunTrust Banks, Inc. cut PPG Industries from a “buy” rating to a “hold” rating and decreased their target price for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. KeyCorp restated a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a report on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Friday, September 15th. Finally, Credit Suisse Group set a $113.00 price target on PPG Industries and gave the stock a “buy” rating in a report on Sunday, July 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $115.67.
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PPG Industries, Inc. (NYSE:PPG) traded up 1.09% during trading on Thursday, hitting $113.63. The stock had a trading volume of 714,543 shares. The firm has a market cap of $29.14 billion, a PE ratio of 29.89 and a beta of 1.55. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $114.15. The company’s 50-day moving average is $107.47 and its 200 day moving average is $107.55.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. Equities analysts expect that PPG Industries, Inc. will post $6.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were issued a $0.45 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio (DPR) is 46.88%.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the sale, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were 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 in the company, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
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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