PPG Industries, Inc. $PPG Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 738,046 shares of the specialty chemicals company’s stock after acquiring an additional 21,097 shares during the period. Russell Investments Group Ltd. owned approximately 0.33% of PPG Industries worth $77,095,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $2,856,392,000. Pzena Investment Management LLC purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $946,964,000. Bank of New York Mellon Corp acquired a new stake in PPG Industries during the 2nd quarter worth approximately $318,870,000. Bank of America Corp DE acquired a new stake in PPG Industries during the 2nd quarter worth approximately $278,965,000. Finally, First Trust Advisors LP raised its holdings in PPG Industries by 321.4% in the first quarter. First Trust Advisors LP now owns 2,287,261 shares of the specialty chemicals company’s stock valued at $244,462,000 after buying an additional 1,744,528 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $128.00 price objective on shares of PPG Industries in a research report on Friday, October 9th. Royal Bank Of Canada raised their target price on shares of PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research note on Thursday, October 29th. Sanford C. Bernstein restated an “outperform” rating and set a $137.00 target price on shares of PPG Industries in a report on Thursday, October 29th. Finally, Barclays lifted their target price on shares of PPG Industries from $136.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Stock Up 0.3%

NYSE PPG traded up $0.31 on Friday, reaching $122.66. The company had a trading volume of 1,721,475 shares, compared to its average volume of 2,150,408. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The firm has a 50-day moving average of $111.02 and a 200-day moving average of $113.13. The firm has a market capitalization of $27.09 billion, a PE ratio of 17.52, a P/E/G ratio of 2.10 and a beta of 1.00.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 27th. The specialty chemicals company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm posted $2.13 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.98 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio is presently 42.29%.

Insider Activity

In other news, VP Chancey Hagerty sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at approximately $1,241,013.54. This represents a 20.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

PPG Industries Company Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.