Crossmark Global Holdings Inc. decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,672 shares of the specialty chemicals company’s stock after selling 710 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in PPG Industries were worth $2,205,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of PPG Industries by 16.9% during the fourth quarter. JPMorgan Chase & Co. now owns 8,396,267 shares of the specialty chemicals company’s stock valued at $1,210,910,000 after buying an additional 1,216,349 shares in the last quarter. Norges Bank purchased a new position in shares of PPG Industries during the fourth quarter valued at $646,570,000. Morgan Stanley grew its holdings in shares of PPG Industries by 46.4% during the fourth quarter. Morgan Stanley now owns 2,117,435 shares of the specialty chemicals company’s stock valued at $305,378,000 after buying an additional 671,287 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,346,059 shares of the specialty chemicals company’s stock valued at $194,122,000 after buying an additional 9,957 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of PPG Industries by 4.0% during the fourth quarter. Principal Financial Group Inc. now owns 1,285,946 shares of the specialty chemicals company’s stock valued at $185,458,000 after buying an additional 48,903 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.
In related news, SVP Vadlamannati Ramaprasad sold 20,956 shares of the business’s stock in a transaction dated Tuesday, April 20th. The stock was sold at an average price of $168.84, for a total transaction of $3,538,211.04. Following the transaction, the senior vice president now directly owns 28,192 shares in the company, valued at $4,759,937.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.
PPG Industries stock opened at $171.56 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.16 and a current ratio of 1.52. The business’s 50-day simple moving average is $151.17 and its 200-day simple moving average is $143.23. The firm has a market capitalization of $40.68 billion, a PE ratio of 37.87, a PEG ratio of 3.21 and a beta of 1.11. PPG Industries, Inc. has a 52 week low of $81.43 and a 52 week high of $174.36.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, April 14th. The specialty chemicals company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.31. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.68 billion. PPG Industries had a return on equity of 25.01% and a net margin of 7.85%. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Research analysts forecast that PPG Industries, Inc. will post 5.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 11th. Investors of record on Monday, May 10th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, May 7th. This represents a $2.16 annualized dividend and a yield of 1.26%. PPG Industries’s dividend payout ratio is 34.73%.
A number of research analysts have recently weighed in on PPG shares. BMO Capital Markets lifted their price target on PPG Industries from $185.00 to $193.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on PPG Industries from $173.00 to $195.00 and gave the company an “overweight” rating in a research report on Monday. Credit Suisse Group reissued a “neutral” rating and set a $145.00 price objective on shares of PPG Industries in a research report on Monday, March 22nd. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating and set a $177.00 price objective for the company in a research report on Tuesday. Finally, Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 25th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. PPG Industries presently has a consensus rating of “Buy” and a consensus target price of $157.61.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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