PPG Industries, Inc. (PPG) Shares Bought by Boston Common Asset Management LLC
Boston Common Asset Management LLC boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 22.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,447 shares of the specialty chemicals company’s stock after purchasing an additional 9,515 shares during the period. Boston Common Asset Management LLC’s holdings in PPG Industries were worth $5,767,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Sun Life Financial INC increased its holdings in PPG Industries by 12,386.7% during the 2nd quarter. Sun Life Financial INC now owns 1,873 shares of the specialty chemicals company’s stock valued at $206,000 after purchasing an additional 1,858 shares during the period. Clinton Group Inc. purchased a new position in PPG Industries during the 2nd quarter valued at about $2,003,000. Compagnie Lombard Odier SCmA increased its holdings in PPG Industries by 0.5% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 42,102 shares of the specialty chemicals company’s stock valued at $4,630,000 after purchasing an additional 200 shares during the period. UBS Oconnor LLC increased its holdings in PPG Industries by 159.6% during the 2nd quarter. UBS Oconnor LLC now owns 452,894 shares of the specialty chemicals company’s stock valued at $49,800,000 after purchasing an additional 278,456 shares during the period. Finally, HighTower Advisors LLC increased its holdings in PPG Industries by 2.7% during the 2nd quarter. HighTower Advisors LLC now owns 27,539 shares of the specialty chemicals company’s stock valued at $3,021,000 after purchasing an additional 736 shares during the period. Institutional investors own 73.92% of the company’s stock.
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PPG Industries, Inc. (NYSE:PPG) traded down 0.17% during mid-day trading on Friday, hitting $108.66. The company had a trading volume of 1,749,282 shares. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67. The company has a 50 day moving average of $104.24 and a 200 day moving average of $106.76. The firm has a market capitalization of $27.87 billion, a PE ratio of 28.59 and a beta of 1.55.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.83. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. PPG Industries’s revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. Analysts predict that PPG Industries, Inc. will post $6.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.66%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
In related news, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the transaction, the insider now directly owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction that occurred on 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 transaction, the vice president now directly owns 52,748 shares in the company, valued at $5,316,998.40. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
A number of research analysts have weighed in on the company. SunTrust Banks, Inc. downgraded PPG Industries from a “buy” rating to a “hold” rating and reduced their target price for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. KeyCorp reiterated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a report on Friday, August 25th. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a report on Friday, September 15th. Finally, Credit Suisse Group set a $113.00 target price on PPG Industries and gave the stock a “buy” rating in a report on Sunday, July 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $115.19.
PPG Industries 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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