Cypress Capital Group lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,199 shares of the specialty chemicals company’s stock after selling 540 shares during the period. Cypress Capital Group’s holdings in PPG Industries were worth $3,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Investment Partners Ltd. OH ADV increased its position in 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 worth $273,000 after purchasing an additional 7 shares during the last quarter. Sigma Planning Corp increased its position in PPG Industries by 0.3% in the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 12 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC increased its position in PPG Industries by 0.4% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after purchasing an additional 12 shares during the last quarter. Balasa Dinverno & Foltz LLC increased its position in 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 worth $223,000 after purchasing an additional 31 shares during the last quarter. Finally, First Interstate Bank increased its position in PPG Industries by 3.1% in the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 73.92% of the company’s stock.

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A number of research firms have weighed in on PPG. Citigroup Inc. boosted their price objective on shares of PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Friday, September 15th. Royal Bank Of Canada reiterated a “hold” rating and set a $109.00 price objective on shares of PPG Industries in a research report on Wednesday, September 13th. Finally, Robert W. Baird reiterated a “buy” rating and set a $115.00 price objective on shares of PPG Industries in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $115.67.

Shares of PPG Industries, Inc. (PPG) traded down 0.25% during mid-day trading on Wednesday, hitting $112.10. 209,967 shares of the stock were exchanged. The stock has a market cap of $28.75 billion, a price-to-earnings ratio of 39.20 and a beta of 1.55. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $114.15. The company has a 50-day moving average price of $107.24 and a 200-day moving average price of $107.51.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. Equities analysts expect that PPG Industries, Inc. will post $6.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a $0.45 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, August 8th. PPG Industries’s payout ratio is 46.88%.

In related news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’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 sale, the insider now directly owns 15,545 shares in the company, valued at approximately $1,593,207.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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