PPG Industries, Inc. (PPG) Stake Maintained by First Personal Financial Services
First Personal Financial Services continued to hold its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,561 shares of the specialty chemicals company’s stock at the end of the second quarter. First Personal Financial Services’ holdings in PPG Industries were worth $172,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in PPG Industries by 2.9% in the first quarter. Vanguard Group Inc. now owns 19,441,146 shares of the specialty chemicals company’s stock worth $2,042,875,000 after buying an additional 541,039 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in PPG Industries by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after buying an additional 216,278 shares in the last quarter. BlackRock Inc. raised its position in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after buying an additional 13,902,595 shares in the last quarter. Clearbridge Investments LLC raised its position in PPG Industries by 4.7% in the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after buying an additional 222,376 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in PPG Industries by 639.5% in the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after buying an additional 3,643,443 shares in the last quarter. 71.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPG Industries, Inc. (NYSE PPG) opened at 102.08 on Friday. The firm has a market capitalization of $26.18 billion, a P/E ratio of 26.86 and a beta of 1.54. The stock’s 50 day moving average is $107.13 and its 200-day moving average is $106.21. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.67.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, August 8th. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio (DPR) is 46.88%.
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A number of equities analysts recently issued reports on PPG shares. SunTrust Banks, Inc. lowered PPG Industries from a “buy” rating to a “hold” rating and lowered their price target for the stock from $120.00 to $113.00 in a report on Monday, July 24th. TheStreet raised PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Barclays PLC raised their price target on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, April 24th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG reissued a “hold” rating and set a $110.00 price target (up previously from $102.00) on shares of PPG Industries in a report on Sunday, April 23rd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. PPG Industries has an average rating of “Hold” and a consensus price target of $114.50.
In other news, VP Glenn E. Bost II sold 19,812 shares of the 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 transaction, the vice president now directly owns 52,748 shares in the company, valued at $5,316,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 three segments: Performance Coatings, Industrial Coatings and Glass. 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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