Saturna Capital CORP Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Saturna Capital CORP lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 406,813 shares of the specialty chemicals company’s stock after selling 272 shares during the period. Saturna Capital CORP owned approximately 0.17% of PPG Industries worth $47,479,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC increased its stake in PPG Industries by 9.4% in the second quarter. Ropes Wealth Advisors LLC now owns 1,816 shares of the specialty chemicals company’s stock worth $212,000 after purchasing an additional 156 shares during the period. Janus Henderson Group PLC increased its stake in shares of PPG Industries by 20.5% during the second quarter. Janus Henderson Group PLC now owns 102,131 shares of the specialty chemicals company’s stock valued at $11,917,000 after buying an additional 17,344 shares during the period. Advisor Group Inc. increased its stake in shares of PPG Industries by 3.6% during the second quarter. Advisor Group Inc. now owns 20,039 shares of the specialty chemicals company’s stock valued at $2,339,000 after buying an additional 700 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of PPG Industries by 1.8% during the second quarter. Royal London Asset Management Ltd. now owns 95,913 shares of the specialty chemicals company’s stock valued at $11,189,000 after buying an additional 1,687 shares during the period. Finally, UMB Bank N A MO increased its stake in shares of PPG Industries by 5.0% during the second quarter. UMB Bank N A MO now owns 4,341 shares of the specialty chemicals company’s stock valued at $507,000 after buying an additional 205 shares during the period. Institutional investors own 78.64% of the company’s stock.

PPG stock traded up $0.94 during trading on Tuesday, reaching $113.49. 383,058 shares of the company traded hands, compared to its average volume of 1,404,937. PPG Industries, Inc. has a 12 month low of $94.37 and a 12 month high of $121.29. The company’s 50 day moving average price is $116.56. The company has a market capitalization of $27.25 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.22. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 1.04.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.02. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the company earned $1.90 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts expect that PPG Industries, Inc. will post 6.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a yield of 1.80%. This is an increase from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio (DPR) is presently 34.46%.

Several equities analysts have recently commented on the company. Credit Suisse Group set a $115.00 price target on PPG Industries and gave the company a “hold” rating in a research note on Friday, July 19th. Societe Generale assumed coverage on PPG Industries in a research note on Tuesday, July 9th. They set a “buy” rating and a $138.00 price target on the stock. Royal Bank of Canada raised their price target on PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Barclays raised their price target on PPG Industries from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Finally, Citigroup set a $133.00 price target on PPG Industries and gave the company a “buy” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PPG Industries has an average rating of “Hold” and an average price target of $123.71.

In related news, Director Victoria F. Haynes sold 674 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $117.12, for a total value of $1,628,436.48. Following the completion of the sale, the vice president now directly owns 29,617 shares of the company’s stock, valued at approximately $3,468,743.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,078 shares of company stock worth $1,967,862. 0.37% of the stock is owned by corporate insiders.

About PPG Industries

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

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