Smith Shellnut Wilson LLC ADV boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 10.8% in the first quarter, HoldingsChannel reports. The firm owned 3,880 shares of the specialty chemicals company’s stock after buying an additional 377 shares during the quarter. Smith Shellnut Wilson LLC ADV’s holdings in PPG Industries were worth $438,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Trian Fund Management L.P. boosted its holdings in shares of PPG Industries by 69.2% in the fourth quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock valued at $716,572,000 after acquiring an additional 2,866,150 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of PPG Industries by 10,003.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 2,782,589 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of PPG Industries by 2.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock valued at $2,468,246,000 after acquiring an additional 643,315 shares during the period. Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $36,143,000. Finally, Deutsche Bank AG boosted its holdings in shares of PPG Industries by 24.0% in the fourth quarter. Deutsche Bank AG now owns 1,341,354 shares of the specialty chemicals company’s stock valued at $137,116,000 after acquiring an additional 259,442 shares during the period. 78.49% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Victoria F. Haynes sold 674 shares of the company’s stock in a transaction that occurred on 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 is accessible through the SEC website. Also, VP William E. Schaupp sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total value of $267,200.00. Following the sale, the vice president now owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Shares of PPG Industries stock traded up $0.08 during trading hours on Wednesday, hitting $116.93. 18,181 shares of the company were exchanged, compared to its average volume of 1,306,670. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $121.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. The stock has a market capitalization of $27.66 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the business earned $1.39 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 6.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.
Several equities research analysts have recently weighed in on PPG shares. Zacks Investment Research raised PPG Industries from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Wednesday, April 24th. Deutsche Bank increased their price objective on PPG Industries from $120.00 to $134.00 and gave the company a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Barclays increased their price objective on PPG Industries from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. BMO Capital Markets increased their price objective on PPG Industries from $112.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Finally, Buckingham Research increased their price objective on PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. PPG Industries has an average rating of “Hold” and a consensus target price of $117.89.
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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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