GAM Holding AG lowered its position in PPG Industries, Inc. (NYSE:PPG) by 10.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 55,283 shares of the specialty chemicals company’s stock after selling 6,268 shares during the period. GAM Holding AG’s holdings in PPG Industries were worth $6,079,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PPG. Investment Partners Ltd. OH ADV boosted its position in shares of PPG Industries by 0.3% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock valued at $273,000 after buying an additional 7 shares during the period. Sigma Planning Corp boosted its position in shares of PPG Industries by 0.3% in the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock valued at $447,000 after buying an additional 12 shares during the period. YorkBridge Wealth Partners LLC boosted its position in shares of PPG Industries by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock valued at $637,000 after buying an additional 15 shares during the period. Linscomb & Williams Inc. boosted its position in shares of PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock valued at $307,000 after buying an additional 31 shares during the period. Finally, Balasa Dinverno & Foltz LLC boosted its position in shares of PPG Industries by 1.6% in the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock valued at $223,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.

PPG Industries, Inc. (NYSE:PPG) opened at 103.71 on Friday. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 27.28 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’s 50-day moving average is $106.46 and its 200 day moving average is $106.29.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $1.73 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, analysts forecast 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 $0.45 dividend. This is a positive change 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 1.74%. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.

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PPG has been the subject of several recent research reports. SunTrust Banks, Inc. cut shares of PPG Industries from a “buy” rating to a “hold” rating and decreased their price target for the company from $120.00 to $113.00 in a research report on Monday, July 24th. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a research report on Monday, May 22nd. KeyCorp restated a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a research report on Friday. 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, Credit Suisse Group set a $113.00 price target on shares of PPG Industries and gave the company a “buy” rating in a research report on Sunday, July 23rd. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $115.20.

In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the sale, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Company 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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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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