Findlay Park Partners LLP raised its holdings in PPG Industries (NYSE:PPG) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,093,176 shares of the specialty chemicals company’s stock after acquiring an additional 270,378 shares during the period. Findlay Park Partners LLP’s holdings in PPG Industries were worth $121,998,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in PPG. Ceredex Value Advisors LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth approximately $85,777,000. APG Asset Management N.V. increased its holdings in shares of PPG Industries by 108.6% during the 4th quarter. APG Asset Management N.V. now owns 1,087,338 shares of the specialty chemicals company’s stock worth $105,782,000 after buying an additional 566,100 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $57,025,000. Renaissance Technologies LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth approximately $50,151,000. Finally, Capital Analysts LLC increased its holdings in shares of PPG Industries by 1,300.7% during the 4th quarter. Capital Analysts LLC now owns 401,262 shares of the specialty chemicals company’s stock worth $43,870,000 after buying an additional 372,614 shares during the last quarter. Institutional investors own 75.86% of the company’s stock.
PPG Industries opened at $104.95 on Monday, MarketBeat reports. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.66 and a quick ratio of 1.22. The company has a market cap of $26.22 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.83 and a beta of 1.56. PPG Industries has a fifty-two week low of $100.36 and a fifty-two week high of $122.07.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.10). The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 EPS. equities analysts forecast that PPG Industries will post 6.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.72%. PPG Industries’s payout ratio is currently 30.66%.
In related news, VP Jean-Marie Greindl sold 9,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the transaction, the vice president now owns 27,685 shares of the company’s stock, valued at approximately $3,205,646.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.
PPG has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of PPG Industries from $128.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Barclays restated an “equal weight” rating and set a $122.00 price target (down previously from $125.00) on shares of PPG Industries in a report on Friday, March 2nd. ValuEngine downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Deutsche Bank upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $126.00 to $130.00 in a report on Tuesday, March 20th. Finally, Zacks Investment Research downgraded shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. PPG Industries presently has an average rating of “Hold” and a consensus target price of $124.06.
PPG Industries Company 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.
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