Principal Financial Group Inc. Purchases 51,655 Shares of PPG Industries, Inc. (PPG)
Principal Financial Group Inc. grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 941,604 shares of the specialty chemicals company’s stock after acquiring an additional 51,655 shares during the quarter. Principal Financial Group Inc. owned 0.37% of PPG Industries worth $102,315,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Fiduciary Trust Co. boosted its position in PPG Industries by 27.0% during the 3rd quarter. Fiduciary Trust Co. now owns 48,949 shares of the specialty chemicals company’s stock worth $5,319,000 after acquiring an additional 10,412 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in PPG Industries by 15.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 72,894 shares of the specialty chemicals company’s stock worth $7,921,000 after acquiring an additional 9,629 shares during the last quarter. Prudential Financial Inc. boosted its position in PPG Industries by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 371,273 shares of the specialty chemicals company’s stock worth $40,343,000 after acquiring an additional 4,060 shares during the last quarter. Cambridge Trust Co. boosted its position in PPG Industries by 120.7% during the 3rd quarter. Cambridge Trust Co. now owns 12,436 shares of the specialty chemicals company’s stock worth $1,352,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Checchi Capital Advisers LLC acquired a new position in PPG Industries during the 3rd quarter worth approximately $200,000. 74.57% of the stock is owned by hedge funds and other institutional investors.
Shares of PPG Industries, Inc. (NYSE PPG) opened at $114.67 on Friday. PPG Industries, Inc. has a twelve month low of $93.80 and a twelve month high of $119.85. The stock has a market capitalization of $29,180.76, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 3.2% on a year-over-year basis. equities research analysts expect that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio is 26.12%.
A number of equities analysts have weighed in on PPG shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $114.00 price target (up previously from $109.00) on shares of PPG Industries in a research report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG upped their price target on PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. SunTrust Banks, Inc. downgraded PPG Industries from a “buy” rating to a “hold” rating and reduced their price target for the stock from $120.00 to $113.00 in a research report on Monday, July 24th. Finally, Bank of America Corporation downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. PPG Industries currently has an average rating of “Hold” and a consensus price target of $119.36.
ILLEGAL ACTIVITY NOTICE: “Principal Financial Group Inc. Purchases 51,655 Shares of PPG Industries, Inc. (PPG)” was reported by Watch List News and is owned by of Watch List News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/principal-financial-group-inc-purchases-51655-shares-of-ppg-industries-inc-ppg/1698123.html.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the sale, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.
PPG Industries Company 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.
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.