Stifel Financial Corp Sells 3,851 Shares of PPG Industries, Inc. (NYSE:PPG)

Stifel Financial Corp lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,553 shares of the specialty chemicals company’s stock after selling 3,851 shares during the period. Stifel Financial Corp owned 0.06% of PPG Industries worth $25,731,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of PPG Industries by 18.6% during the 2nd quarter. Bank of Montreal Can now owns 381,716 shares of the specialty chemicals company’s stock valued at $64,383,000 after acquiring an additional 59,747 shares during the last quarter. Bridgewater Associates LP raised its position in shares of PPG Industries by 7.8% during the 2nd quarter. Bridgewater Associates LP now owns 250,688 shares of the specialty chemicals company’s stock valued at $42,559,000 after acquiring an additional 18,097 shares during the last quarter. Captrust Financial Advisors raised its position in shares of PPG Industries by 52.7% during the 1st quarter. Captrust Financial Advisors now owns 10,443 shares of the specialty chemicals company’s stock valued at $1,569,000 after acquiring an additional 3,606 shares during the last quarter. AlphaCrest Capital Management LLC increased its position in shares of PPG Industries by 17.2% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 15,404 shares of the specialty chemicals company’s stock valued at $2,615,000 after buying an additional 2,261 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of PPG Industries by 5.3% in the 1st quarter. California State Teachers Retirement System now owns 461,436 shares of the specialty chemicals company’s stock valued at $69,335,000 after buying an additional 23,126 shares in the last quarter. Hedge funds and other institutional investors own 78.88% of the company’s stock.

PPG stock opened at $154.68 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.95 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $36.71 billion, a PE ratio of 24.24, a PEG ratio of 1.00 and a beta of 1.13. PPG Industries, Inc. has a 1-year low of $123.52 and a 1-year high of $182.97. The business’s 50 day simple moving average is $155.36 and its 200 day simple moving average is $164.54.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Sunday, July 18th. The specialty chemicals company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.25). PPG Industries had a net margin of 9.71% and a return on equity of 29.65%. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.19 EPS for the current fiscal year.

A number of analysts recently commented on PPG shares. Susquehanna upgraded shares of PPG Industries from a “neutral” rating to a “positive” rating and upped their price objective for the company from $115.00 to $190.00 in a research report on Monday, July 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, September 8th. Mizuho assumed coverage on PPG Industries in a research note on Tuesday. They issued a “buy” rating and a $180.00 target price on the stock. Royal Bank of Canada cut their target price on PPG Industries from $183.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 8th. Finally, Zacks Investment Research lowered PPG Industries from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Tuesday, June 22nd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $175.69.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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