PPG Industries, Inc. (PPG) Shares Bought by Macquarie Group Ltd.
Macquarie Group Ltd. boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 139,042 shares of the specialty chemicals company’s stock after acquiring an additional 1,204 shares during the quarter. Macquarie Group Ltd.’s holdings in PPG Industries were worth $14,424,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PPG. McKinley Carter Wealth Services Inc. purchased a new position in PPG Industries during the first quarter worth about $104,000. Cornerstone Wealth Management LLC purchased a new position in PPG Industries during the second quarter worth about $105,000. Archford Capital Strategies LLC purchased a new position in PPG Industries during the first quarter worth about $109,000. Kohmann Bosshard Financial Services LLC purchased a new position in PPG Industries during the first quarter worth about $112,000. Finally, Summit Trail Advisors LLC boosted its stake in PPG Industries by 11,166.0% during the first quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock worth $119,000 after buying an additional 117,578 shares during the period. 76.61% of the stock is owned by institutional investors.
NYSE PPG opened at $115.92 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.70 and a debt-to-equity ratio of 1.01. PPG Industries, Inc. has a one year low of $100.36 and a one year high of $122.07. The company has a market capitalization of $27.41 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.18 and a beta of 1.52.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 10th were paid a $0.48 dividend. The ex-dividend date was Thursday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 1.66%. This is an increase from PPG Industries’s previous quarterly dividend of $0.45. PPG Industries’s payout ratio is currently 32.71%.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of PPG Industries from an “overweight” rating to a “neutral” rating and set a $113.00 target price for the company. in a research note on Friday, July 27th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. SunTrust Banks reaffirmed a “hold” rating and set a $110.00 target price on shares of PPG Industries in a research note on Friday, July 20th. Finally, KeyCorp lowered their price objective on shares of PPG Industries from $130.00 to $128.00 and set a “$104.41” rating for the company in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. PPG Industries has a consensus rating of “Hold” and an average target price of $122.29.
PPG Industries Company Profile
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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