Stack Financial Management Inc boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,684 shares of the specialty chemicals company’s stock after buying an additional 490 shares during the period. Stack Financial Management Inc’s holdings in PPG Industries were worth $12,625,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fort L.P. acquired a new stake in PPG Industries during the second quarter worth $120,000. Investment Counselors of Maryland LLC acquired a new stake in shares of PPG Industries in the 3rd quarter valued at $158,000. Qube Research & Technologies Ltd acquired a new stake in shares of PPG Industries in the 2nd quarter valued at $167,000. CWM LLC boosted its stake in shares of PPG Industries by 47.6% in the 3rd quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock valued at $182,000 after purchasing an additional 539 shares in the last quarter. Finally, Bennicas & Associates Inc. acquired a new stake in shares of PPG Industries in the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 78.76% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Northcoast Research set a $114.00 target price on shares of PPG Industries and gave the company a “buy” rating in a research note on Tuesday, October 9th. SunTrust Banks restated a “hold” rating and issued a $110.00 target price on shares of PPG Industries in a research note on Friday, July 20th. Citigroup reduced their target price on shares of PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 11th. Finally, Goldman Sachs Group raised PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $117.81.
Shares of PPG Industries stock traded down $0.57 during trading on Wednesday, reaching $106.79. The company’s stock had a trading volume of 5,402 shares, compared to its average volume of 3,295,988. The company has a quick ratio of 1.22, a current ratio of 1.71 and a debt-to-equity ratio of 0.99. PPG Industries, Inc. has a one year low of $94.37 and a one year high of $122.07. The stock has a market capitalization of $25.65 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 2.21 and a beta of 1.36.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.45. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The business had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 5.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be issued a $0.48 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.80%. PPG Industries’s dividend payout ratio is 32.71%.
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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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