AlphaCrest Capital Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the 1st quarter, Holdings Channel reports. The firm acquired 4,103 shares of the specialty chemicals company’s stock, valued at approximately $463,000.
Other hedge funds have also recently bought and sold shares of the company. Paragon Capital Management LLC purchased a new stake in shares of PPG Industries in the 1st quarter valued at $29,000. Capital Financial Planning LLC purchased a new stake in shares of PPG Industries in the 4th quarter valued at $31,000. Zions Bancorporation N.A. purchased a new stake in shares of PPG Industries in the 1st quarter valued at $34,000. Berman Capital Advisors LLC grew its stake in PPG Industries by 49.5% during the 1st quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 107 shares in the last quarter. Finally, CX Institutional grew its stake in PPG Industries by 797.4% during the 1st quarter. CX Institutional now owns 341 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.
Several research analysts recently commented on PPG shares. Zacks Investment Research raised PPG Industries from a “hold” rating to a “buy” rating and set a $128.00 target price for the company in a research note on Wednesday, May 8th. BMO Capital Markets boosted their target price on PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. Deutsche Bank boosted their target price on PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. They noted that the move was a valuation call. Buckingham Research boosted their target price on PPG Industries from $108.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. Finally, KeyCorp boosted their target price on PPG Industries from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. PPG Industries presently has an average rating of “Hold” and an average price target of $117.89.
NYSE:PPG opened at $116.85 on Wednesday. The stock has a market cap of $27.30 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $121.29. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 6.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. PPG Industries’s dividend payout ratio is currently 32.43%.
In other news, Director Victoria F. Haynes sold 674 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP William E. Schaupp sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total value of $267,200.00. Following the transaction, the vice president now directly owns 4,389 shares of the company’s stock, valued at $469,096.32. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
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PPG Industries 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.
Further Reading: Cost of Equity For A Business, Investors
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