BLB&B Advisors LLC Maintains Stake in PPG Industries, Inc. (NYSE:PPG)
BLB&B Advisors LLC held its stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the SEC. The fund owned 9,456 shares of the specialty chemicals company’s stock at the end of the second quarter. BLB&B Advisors LLC’s holdings in PPG Industries were worth $994,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of PPG. Cable Hill Partners LLC boosted its stake in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 77 shares during the period. Baystate Wealth Management LLC boosted its stake in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the last quarter. V Wealth Management LLC bought a new stake in PPG Industries during the second quarter worth approximately $112,000. State of Alaska Department of Revenue bought a new stake in PPG Industries during the second quarter worth approximately $113,000. Finally, Coconut Grove Bank boosted its stake in PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the last quarter. Institutional investors own 71.81% of the company’s stock.
PPG Industries, Inc. (NYSE PPG) traded up 0.12% on Monday, hitting $105.14. 1,143,214 shares of the company were exchanged. The stock has a market capitalization of $26.97 billion, a P/E ratio of 27.66 and a beta of 1.54. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.67. The company has a 50 day moving average price of $109.92 and a 200-day moving average price of $106.01.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.83. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. PPG Industries’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.73 EPS. On average, equities analysts expect that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be paid a $0.45 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. PPG Industries’s payout ratio is presently 41.67%.
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A number of equities research analysts have commented on the stock. Deutsche Bank AG raised their price target on shares of PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, July 21st. BidaskClub cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Citigroup Inc. restated a “market perform” rating on shares of PPG Industries in a report on Friday, April 14th. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Finally, Bank of America Corporation cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a report on Monday, July 24th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. PPG Industries has an average rating of “Hold” and an average target price of $113.93.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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