Natixis Advisors L.P. raised its holdings in PPG Industries (NYSE:PPG) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 210,509 shares of the specialty chemicals company’s stock after acquiring an additional 6,213 shares during the quarter. Natixis Advisors L.P.’s holdings in PPG Industries were worth $23,493,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. WBI Investments Inc. purchased a new stake in shares of PPG Industries during the 1st quarter worth $24,781,000. Smithfield Trust Co. lifted its position in shares of PPG Industries by 1.4% during the 1st quarter. Smithfield Trust Co. now owns 135,415 shares of the specialty chemicals company’s stock worth $15,113,000 after purchasing an additional 1,910 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of PPG Industries by 23.4% during the 1st quarter. Toronto Dominion Bank now owns 143,899 shares of the specialty chemicals company’s stock worth $16,055,000 after purchasing an additional 27,331 shares during the last quarter. Personal Capital Advisors Corp purchased a new stake in shares of PPG Industries during the 1st quarter worth $294,000. Finally, Novare Capital Management LLC lifted its position in shares of PPG Industries by 3.7% during the 1st quarter. Novare Capital Management LLC now owns 49,268 shares of the specialty chemicals company’s stock worth $5,498,000 after purchasing an additional 1,759 shares during the last quarter. 75.86% of the stock is owned by institutional investors.
Shares of NYSE:PPG opened at $102.71 on Thursday. PPG Industries has a 12 month low of $100.36 and a 12 month high of $122.07. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The firm has a market cap of $25.70 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.80 and a beta of 1.56.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.10). PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share. PPG Industries’s revenue was up 8.6% compared to the same quarter last year. equities analysts expect that PPG Industries will post 6.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 annualized dividend and a yield of 1.75%. PPG Industries’s dividend payout ratio is currently 30.66%.
Several equities research analysts have recently issued reports on the stock. Barclays reaffirmed an “equal weight” rating and set a $122.00 price objective (down from $125.00) on shares of PPG Industries in a research report on Friday, March 2nd. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, March 27th. Citigroup decreased their price objective on shares of PPG Industries from $128.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets decreased their price objective on shares of PPG Industries to $116.00 and set a “market perform” rating for the company in a research report on Thursday, May 17th. Finally, ValuEngine cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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