Abner Herrman & Brock LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,400 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Abner Herrman & Brock LLC’s holdings in PPG Industries were worth $245,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PPG. Massachusetts Financial Services Co. MA raised its holdings in PPG Industries by 6.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,500,737 shares of the specialty chemicals company’s stock valued at $2,564,635,000 after acquiring an additional 1,387,824 shares during the period. Wells Fargo & Company MN raised its holdings in PPG Industries by 3.5% in the 3rd quarter. Wells Fargo & Company MN now owns 3,498,867 shares of the specialty chemicals company’s stock valued at $381,831,000 after acquiring an additional 119,509 shares during the period. Bank of America Corp DE raised its holdings in PPG Industries by 15.2% in the 2nd quarter. Bank of America Corp DE now owns 3,051,444 shares of the specialty chemicals company’s stock valued at $316,527,000 after acquiring an additional 401,643 shares during the period. Capital International Investors bought a new position in PPG Industries in the 3rd quarter valued at about $196,434,000. Finally, Legal & General Group Plc raised its holdings in PPG Industries by 4.9% in the 3rd quarter. Legal & General Group Plc now owns 1,382,399 shares of the specialty chemicals company’s stock valued at $150,839,000 after acquiring an additional 64,576 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.
Shares of NYSE PPG traded down $0.86 during trading hours on Friday, hitting $101.79. 22,594 shares of the stock were exchanged, compared to its average volume of 1,380,874. The company has a current ratio of 1.71, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.05 and a beta of 1.27. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $122.07.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.45. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 5.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 12th. Investors of record on Monday, November 12th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.89%. PPG Industries’s dividend payout ratio is 32.71%.
PPG has been the topic of several research analyst reports. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 25th. Credit Suisse Group set a $115.00 target price on shares of PPG Industries and gave the stock a “hold” rating in a report on Monday, October 15th. Goldman Sachs Group raised shares of PPG Industries from a “buy” rating to a “conviction-buy” rating in a report on Monday, October 29th. Citigroup raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 target price on the stock in a report on Thursday, November 29th. Finally, JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $105.00 target price on the stock in a report on Friday, October 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $117.03.
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.
Further Reading: Risk Tolerance
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