PPG Industries, Inc. (PPG) Stake Lowered by SG Americas Securities LLC
SG Americas Securities LLC lowered its position in PPG Industries, Inc. (NYSE:PPG) by 35.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,304 shares of the specialty chemicals company’s stock after selling 16,469 shares during the period. SG Americas Securities LLC’s holdings in PPG Industries were worth $3,332,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in PPG. Janney Montgomery Scott LLC boosted its stake in shares of PPG Industries by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 119,187 shares of the specialty chemicals company’s stock worth $12,524,000 after buying an additional 4,741 shares during the period. Bartlett & Co. LLC boosted its stake in shares of PPG Industries by 5.2% in the first quarter. Bartlett & Co. LLC now owns 7,277 shares of the specialty chemicals company’s stock worth $765,000 after buying an additional 357 shares during the period. Baystate Wealth Management LLC boosted its stake in shares of 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 period. Mycio Wealth Partners LLC purchased a new stake in shares of PPG Industries during the first quarter worth about $263,000. Finally, IFC Holdings Incorporated FL boosted its stake in shares of PPG Industries by 5.3% in the first quarter. IFC Holdings Incorporated FL now owns 2,790 shares of the specialty chemicals company’s stock worth $291,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.
Shares of PPG Industries, Inc. (PPG) opened at 102.08 on Monday. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 26.86 and a beta of 1.54. PPG Industries, Inc. has a one year low of $89.64 and a one year high of $113.67. The firm’s 50-day moving average is $107.13 and its 200-day moving average is $106.21.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.73 earnings per share. Analysts expect that PPG Industries, Inc. will post $6.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.76%. PPG Industries’s payout ratio is presently 46.88%.
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A number of brokerages recently issued reports on PPG. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Credit Suisse Group reiterated an “outperform” rating and set a $114.00 target price (up previously from $109.00) on shares of PPG Industries in a research report on Monday, July 17th. They noted that the move was a valuation call. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Thursday, July 6th. Finally, Barclays PLC increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, April 24th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $114.50.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was 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 owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.
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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