Barings LLC Has $273,000 Holdings in PPG Industries, Inc. (PPG)
Barings LLC maintained its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,596 shares of the specialty chemicals company’s stock at the close of the second quarter. Barings LLC’s holdings in PPG Industries were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Harbour Capital Advisors LLC boosted its stake in PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after buying an additional 10,896 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in PPG Industries during the second quarter worth $105,000. V Wealth Management LLC acquired a new position in PPG Industries during the second quarter worth $112,000. State of Alaska Department of Revenue acquired a new position in PPG Industries during the second quarter worth $113,000. Finally, Global X Management Co. LLC boosted its stake in PPG Industries by 26.7% during the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the last quarter. 73.93% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on PPG. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a research note on Wednesday, August 9th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Thursday. Finally, Citigroup Inc. upped their price target on PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $115.67.
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In related news, VP Glenn E. Bost II sold 19,812 shares of PPG Industries 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 transaction, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction on 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 completion of the transaction, 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. 0.72% of the stock is currently owned by company insiders.
PPG Industries, Inc. (NYSE:PPG) opened at 114.31 on Friday. The firm has a market cap of $29.32 billion, a price-to-earnings ratio of 30.07 and a beta of 1.55. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $115.36. The company’s 50-day moving average price is $109.11 and its 200 day moving average price is $107.89.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.52. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts expect that PPG Industries, Inc. will post $5.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.57%. PPG Industries’s payout ratio is currently 46.88%.
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.
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