Raymond James Financial Services Advisors Inc. boosted its position in PPG Industries, Inc. (NYSE:PPG) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,153 shares of the specialty chemicals company’s stock after purchasing an additional 3,223 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in PPG Industries were worth $4,472,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Polaris Greystone Financial Group LLC bought a new position in shares of PPG Industries in the second quarter valued at $1,518,000. AXA increased its holdings in shares of PPG Industries by 47.4% in the second quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock valued at $91,122,000 after buying an additional 266,457 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in shares of PPG Industries by 214.1% in the second quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $733,000 after buying an additional 4,541 shares in the last quarter. LS Investment Advisors LLC increased its holdings in shares of PPG Industries by 3.4% in the third quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock valued at $2,605,000 after buying an additional 784 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in shares of PPG Industries in the third quarter valued at $2,602,000. Hedge funds and other institutional investors own 75.09% of the company’s stock.
PPG Industries, Inc. (NYSE PPG) traded down $0.08 during midday trading on Thursday, hitting $116.11. 1,128,638 shares of the stock were exchanged, compared to its average volume of 1,442,263. PPG Industries, Inc. has a 1-year low of $93.80 and a 1-year high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. The firm has a market capitalization of $29,710.06, a P/E ratio of 19.82, a PEG ratio of 2.32 and a beta of 1.59.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the business posted $1.56 earnings per share. PPG Industries’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.
Several research analysts have issued reports on PPG shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a report on Wednesday, August 9th. KeyCorp reaffirmed a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a report on Friday, August 25th. Robert W. Baird reissued a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st. Jefferies Group reissued a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Friday, September 15th. Finally, Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $119.40.
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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.
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