PPG Industries, Inc. (PPG) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its stake in PPG Industries, Inc. (NYSE:PPG) by 41.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,941 shares of the specialty chemicals company’s stock after buying an additional 35,698 shares during the period. BNP Paribas Arbitrage SA’s holdings in PPG Industries were worth $13,250,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Harbour Capital Advisors LLC increased its stake in shares of PPG Industries by 10,896.0% in 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 bought a new stake in shares of PPG Industries in the second quarter worth $105,000. V Wealth Management LLC bought a new stake in shares of PPG Industries in the second quarter worth $112,000. State of Alaska Department of Revenue bought a new stake in shares of PPG Industries in the second quarter worth $113,000. Finally, First Interstate Bank increased its stake in shares of 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 buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.
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PPG Industries, Inc. (NYSE:PPG) opened at $114.55 on Tuesday. PPG Industries, Inc. has a 1-year low of $93.80 and a 1-year high of $119.85. The stock has a market cap of $29,180.75, a price-to-earnings ratio of 19.47, a PEG ratio of 2.28 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. sell-side analysts expect that PPG Industries, Inc. will post 5.9 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 26.12%.
A number of analysts recently issued reports on the stock. SunTrust Banks, Inc. lowered shares of PPG Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $120.00 to $113.00 in a research note on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Friday, September 15th. BidaskClub lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Credit Suisse Group set a $113.00 price target on shares of PPG Industries and gave the stock a “buy” rating in a research note on Sunday, July 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $119.36.
In other news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.
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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