PPG Industries, Inc. (PPG) Shares Bought by Capital Analysts LLC
Capital Analysts LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 27,137 shares of the specialty chemicals company’s stock after buying an additional 1,316 shares during the period. Capital Analysts LLC’s holdings in PPG Industries were worth $2,984,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in PPG. Waldron LP acquired a new position in shares of PPG Industries during the first quarter worth about $292,000. IFP Advisors Inc boosted its position in shares of PPG Industries by 1.5% in the first quarter. IFP Advisors Inc now owns 6,842 shares of the specialty chemicals company’s stock worth $719,000 after buying an additional 100 shares in the last quarter. Meyer Handelman Co. boosted its position in shares of PPG Industries by 0.8% in the first quarter. Meyer Handelman Co. now owns 260,052 shares of the specialty chemicals company’s stock worth $27,326,000 after buying an additional 2,000 shares in the last quarter. AMF Pensionsforsakring AB boosted its position in shares of PPG Industries by 11.3% in the first quarter. AMF Pensionsforsakring AB now owns 387,331 shares of the specialty chemicals company’s stock worth $40,701,000 after buying an additional 39,409 shares in the last quarter. Finally, Whittier Trust Co. boosted its position in shares of PPG Industries by 1.0% in the first quarter. Whittier Trust Co. now owns 12,481 shares of the specialty chemicals company’s stock worth $1,312,000 after buying an additional 125 shares in the last quarter. Institutional investors own 74.17% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE:PPG) opened at 104.15 on Tuesday. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a market cap of $26.71 billion, a price-to-earnings ratio of 27.40 and a beta of 1.54. The stock has a 50 day moving average of $106.28 and a 200 day moving average of $106.32.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting 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 return on equity of 29.47% and a net margin of 6.79%. PPG Industries’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.73%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is currently 46.88%.
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PPG has been the subject of a number of recent research reports. TheStreet upgraded shares of PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research note on Friday, May 26th. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. Credit Suisse Group restated an “outperform” rating and issued a $114.00 price objective (up previously from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. Finally, BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $115.20.
In related news, VP Glenn E. Bost II sold 19,812 shares of the firm’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 transaction, the vice president now directly owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the transaction, the insider now directly owns 15,545 shares in the company, valued at $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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