San Francisco Sentry Investment Group CA Takes Position in PPG Industries, Inc. (PPG)
San Francisco Sentry Investment Group CA bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,003 shares of the specialty chemicals company’s stock, valued at approximately $660,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sii Investments Inc. WI raised its position in PPG Industries by 17.0% during the 2nd quarter. Sii Investments Inc. WI now owns 3,788 shares of the specialty chemicals company’s stock worth $414,000 after purchasing an additional 551 shares during the last quarter. Cramer Rosenthal Mcglynn LLC increased its position in shares of PPG Industries by 5.7% during the second quarter. Cramer Rosenthal Mcglynn LLC now owns 587,598 shares of the specialty chemicals company’s stock worth $64,612,000 after buying an additional 31,650 shares during the period. Royal Bank of Canada increased its position in shares of PPG Industries by 5.6% during the second quarter. Royal Bank of Canada now owns 576,208 shares of the specialty chemicals company’s stock worth $63,360,000 after buying an additional 30,609 shares during the period. Capital Research Global Investors acquired a new stake in shares of PPG Industries during the second quarter worth $192,226,000. Finally, Boston Common Asset Management LLC increased its position in shares of PPG Industries by 22.2% during the second quarter. Boston Common Asset Management LLC now owns 52,447 shares of the specialty chemicals company’s stock worth $5,767,000 after buying an additional 9,515 shares during the period. 73.92% of the stock is currently owned by hedge funds and other institutional investors.
PPG has been the topic of several recent analyst reports. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Thursday, July 6th. Credit Suisse Group reaffirmed an “outperform” rating and set a $114.00 target price (up previously from $109.00) on shares of PPG Industries in a research note 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 note on Wednesday, July 19th. Finally, Deutsche Bank AG lifted their target price on PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $115.31.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the company’s 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 completion of the sale, the vice president now directly owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 15,545 shares in the company, valued at $1,593,207.05. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
PPG Industries, Inc. (NYSE:PPG) traded up 0.33% on Wednesday, hitting $112.36. The stock had a trading volume of 619,892 shares. The company has a market capitalization of $28.82 billion, a price-to-earnings ratio of 29.56 and a beta of 1.55. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The firm has a 50-day moving average of $105.82 and a 200 day moving average of $107.21.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. PPG Industries’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that PPG Industries, Inc. will post $6.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.61%. This is a boost 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%.
About PPG Industries
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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