Tredje AP fonden lifted its position in shares of PPG Industries (NYSE:PPG) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,672 shares of the specialty chemicals company’s stock after purchasing an additional 700 shares during the quarter. Tredje AP fonden’s holdings in PPG Industries were worth $3,200,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its holdings in shares of PPG Industries by 1.5% during the 4th quarter. Mutual of America Capital Management LLC now owns 32,370 shares of the specialty chemicals company’s stock worth $3,781,000 after purchasing an additional 470 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of PPG Industries by 1.4% during the 4th quarter. Stephens Inc. AR now owns 34,724 shares of the specialty chemicals company’s stock worth $4,056,000 after purchasing an additional 495 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of PPG Industries by 18.6% during the 4th quarter. Penserra Capital Management LLC now owns 3,150 shares of the specialty chemicals company’s stock worth $367,000 after purchasing an additional 495 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of PPG Industries by 57.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,372 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 500 shares in the last quarter. Finally, Boulegeris Investments Inc. grew its holdings in shares of PPG Industries by 4.8% during the 1st quarter. Boulegeris Investments Inc. now owns 11,573 shares of the specialty chemicals company’s stock worth $1,292,000 after purchasing an additional 525 shares in the last quarter. 76.92% of the stock is currently owned by institutional investors.
Shares of PPG Industries opened at $104.95 on Friday, according to Marketbeat Ratings. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. PPG Industries has a 52-week low of $100.36 and a 52-week high of $122.07. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 17.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.56.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.10). PPG Industries had a net margin of 10.94% and a return on equity of 26.15%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts forecast that PPG Industries will post 6.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Thursday, May 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 annualized dividend and a yield of 1.72%. PPG Industries’s payout ratio is 30.66%.
In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the transaction, the vice president now owns 27,685 shares in the company, valued at approximately $3,205,646.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.33% of the company’s stock.
Several brokerages have recently weighed in on PPG. Jefferies Group lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets cut their target price on PPG Industries to $116.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank of Canada restated a “hold” rating on shares of PPG Industries in a research report on Tuesday, April 24th. Seaport Global Securities downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, April 17th. Finally, Robert W. Baird restated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a research report on Friday, April 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $124.06.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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