Bessemer Group Inc. increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 90.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,107 shares of the specialty chemicals company’s stock after purchasing an additional 1,479 shares during the period. Bessemer Group Inc.’s holdings in PPG Industries were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Verity & Verity LLC grew its position in shares of PPG Industries by 0.9% in the third quarter. Verity & Verity LLC now owns 60,816 shares of the specialty chemicals company’s stock valued at $6,609,000 after purchasing an additional 534 shares during the period. Polaris Greystone Financial Group LLC acquired a new stake in shares of PPG Industries in the second quarter valued at about $1,518,000. AXA grew its position in shares of PPG Industries by 47.4% in the second quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock valued at $91,122,000 after purchasing an additional 266,457 shares during the period. Great Lakes Advisors LLC grew its position in shares of PPG Industries by 214.1% in the second quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $733,000 after purchasing an additional 4,541 shares during the period. Finally, LS Investment Advisors LLC grew its position in shares of PPG Industries by 3.4% in the third quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock valued at $2,605,000 after purchasing an additional 784 shares during the period. 75.09% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a research report on Wednesday, August 9th. Wells Fargo & Company reiterated a “market perform” rating and issued a $120.00 target price (up previously from $110.00) on shares of PPG Industries in a research report on Tuesday, November 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Citigroup boosted their price target on shares of PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp restated a “buy” rating and set a $125.00 price target on shares of PPG Industries in a research report on Friday, August 25th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $119.40.
Shares of PPG Industries, Inc. (PPG) traded up $1.63 during mid-day trading on Monday, reaching $117.56. 1,337,199 shares of the company’s stock were exchanged, compared to its average volume of 1,447,844. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85. The stock has a market capitalization of $29,501.39, a P/E ratio of 19.68, a PEG ratio of 2.31 and a beta of 1.59.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $1.56 earnings per share. PPG Industries’s quarterly revenue was up 3.2% compared to the same quarter last year. analysts anticipate that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 26.12%.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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