Boston Private Wealth LLC Continues to Hold Stake in PPG Industries, Inc. (PPG)
Boston Private Wealth LLC held its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,905 shares of the specialty chemicals company’s stock at the end of the second quarter. Boston Private Wealth LLC’s holdings in PPG Industries were worth $7,797,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PPG. LS Investment Advisors LLC increased its position in PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock valued at $3,266,000 after buying an additional 4,799 shares during the last quarter. Swiss National Bank increased its position in PPG Industries by 26.1% in the first quarter. Swiss National Bank now owns 935,360 shares of the specialty chemicals company’s stock valued at $98,288,000 after buying an additional 193,800 shares during the last quarter. BlackRock Inc. increased its position in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after buying an additional 13,902,595 shares during the last quarter. Whittier Trust Co. increased its position in PPG Industries by 1.0% in the first quarter. Whittier Trust Co. now owns 12,481 shares of the specialty chemicals company’s stock valued at $1,312,000 after buying an additional 125 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new position in PPG Industries during the first quarter valued at $288,000. Institutional investors and hedge funds own 71.54% of the company’s stock.
PPG Industries, Inc. (PPG) opened at 102.08 on Monday. The stock has a market capitalization of $26.18 billion, a PE ratio of 26.86 and a beta of 1.54. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67. The company’s 50-day moving average is $107.13 and its 200 day moving average is $106.21.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. The company had revenue of $3.81 billion during 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%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Equities analysts predict that PPG Industries, Inc. will post $6.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, August 8th. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.76%. PPG Industries’s dividend payout ratio is currently 46.88%.
PPG has been the topic of several recent research reports. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up from $102.00) on shares of PPG Industries in a research report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research report on Thursday, July 6th. Bank of America Corporation downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target on the stock. in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $114.50.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the transaction, the vice president now directly owns 52,748 shares in the company, valued at $5,316,998.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.
PPG Industries Company Profile
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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