Private Advisor Group LLC Has $1.65 Million Holdings in PPG Industries, Inc. (PPG)

Private Advisor Group LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,927 shares of the specialty chemicals company’s stock after selling 2,351 shares during the period. Private Advisor Group LLC’s holdings in PPG Industries were worth $1,650,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mutual of America Capital Management LLC boosted its position in PPG Industries by 1.5% in the 4th quarter. Mutual of America Capital Management LLC now owns 32,370 shares of the specialty chemicals company’s stock valued at $3,781,000 after buying an additional 470 shares during the last quarter. Liberty Capital Management Inc. boosted its position in PPG Industries by 11.2% in the 4th quarter. Liberty Capital Management Inc. now owns 4,800 shares of the specialty chemicals company’s stock valued at $567,000 after buying an additional 484 shares during the last quarter. Stephens Inc. AR boosted its position in PPG Industries by 1.4% in the 4th quarter. Stephens Inc. AR now owns 34,724 shares of the specialty chemicals company’s stock valued at $4,056,000 after buying an additional 495 shares during the last quarter. Penserra Capital Management LLC boosted its position in PPG Industries by 18.6% in the 4th quarter. Penserra Capital Management LLC now owns 3,150 shares of the specialty chemicals company’s stock valued at $367,000 after buying an additional 495 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its position in PPG Industries by 5.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 10,290 shares of the specialty chemicals company’s stock valued at $1,118,000 after buying an additional 500 shares during the last quarter. 74.83% of the stock is owned by institutional investors.

PPG Industries, Inc. (NYSE:PPG) opened at $116.16 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a twelve month low of $100.34 and a twelve month high of $122.07. The stock has a market cap of $29,033.63, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.58.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.01. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the company posted $1.19 earnings per share. PPG Industries’s revenue was up 7.8% on a year-over-year basis. equities analysts expect that PPG Industries, Inc. will post 6.57 EPS for the current fiscal year.

PPG Industries declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.55%. PPG Industries’s dividend payout ratio is currently 28.53%.

Several brokerages have recently commented on PPG. Citigroup reduced their price target on shares of PPG Industries from $128.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Northcoast Research reaffirmed a “buy” rating and set a $128.00 price target on shares of PPG Industries in a research report on Friday, January 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $120.00 price target on shares of PPG Industries in a research report on Friday, January 19th. Royal Bank of Canada reaffirmed a “hold” rating and set a $115.00 price target on shares of PPG Industries in a research report on Wednesday, January 17th. Finally, Atlantic Securities cut shares of PPG Industries from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 17th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $123.75.

ILLEGAL ACTIVITY WARNING: This news story was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.thelincolnianonline.com/2018/02/17/private-advisor-group-llc-has-1-65-million-holdings-in-ppg-industries-inc-ppg.html.

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG).

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply