PPG Industries, Inc. (PPG) Shares Bought by Baldwin Investment Management LLC
Baldwin Investment Management LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 16.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the specialty chemicals company’s stock after purchasing an additional 400 shares during the quarter. Baldwin Investment Management LLC’s holdings in PPG Industries were worth $327,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Taylor Hoffman Wealth Management bought a new stake in PPG Industries in the 4th quarter valued at $27,000. Oregon Public Employees Retirement Fund increased its holdings in PPG Industries by 10,003.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 2,782,589 shares during the period. Paragon Capital Management LLC bought a new stake in PPG Industries in the 1st quarter valued at $29,000. Capital Financial Planning LLC bought a new stake in PPG Industries in the 4th quarter valued at $31,000. Finally, Zions Bancorporation N.A. bought a new stake in PPG Industries in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.
In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the sale, the vice president now owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Analysts expect that PPG Industries, Inc. will post 6.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 32.43%.
PPG has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price target on the stock. in a report on Friday, March 22nd. Zacks Investment Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets upped their target price on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Deutsche Bank upped their target price on shares of PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Finally, KeyCorp upped their target price on shares of PPG Industries from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $117.89.
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About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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