Stevens Capital Management LP Invests $838,000 in PPG Industries, Inc. (PPG)
Stevens Capital Management LP acquired a new position in PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,714 shares of the specialty chemicals company’s stock, valued at approximately $838,000.
Several other hedge funds have also recently made changes to their positions in PPG. Old Mutual Global Investors UK Ltd. acquired a new position in shares of PPG Industries in the 3rd quarter worth approximately $63,331,000. Polaris Greystone Financial Group LLC raised its holdings in shares of PPG Industries by 29.7% in the 3rd quarter. Polaris Greystone Financial Group LLC now owns 17,906 shares of the specialty chemicals company’s stock worth $1,946,000 after buying an additional 4,098 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of PPG Industries by 3.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 38,034 shares of the specialty chemicals company’s stock worth $4,133,000 after buying an additional 1,090 shares in the last quarter. Verity & Verity LLC raised its holdings in shares of PPG Industries by 0.9% in the 3rd quarter. Verity & Verity LLC now owns 60,816 shares of the specialty chemicals company’s stock worth $6,609,000 after buying an additional 534 shares in the last quarter. Finally, Dupont Capital Management Corp raised its holdings in shares of PPG Industries by 12.6% in the 3rd quarter. Dupont Capital Management Corp now owns 135,840 shares of the specialty chemicals company’s stock worth $14,760,000 after buying an additional 15,249 shares in the last quarter. Institutional investors own 74.67% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a report on Wednesday, August 9th. BidaskClub cut PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. SunTrust Banks, Inc. cut PPG Industries from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Finally, Citigroup Inc. raised their price target on PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently 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 PPG Industries 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 directly owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.
Shares of PPG Industries, Inc. (NYSE PPG) opened at $113.39 on Thursday. The company has a market capitalization of $29,099.32, a price-to-earnings ratio of 19.41, a PEG ratio of 2.27 and a beta of 1.59. PPG Industries, Inc. has a 52 week low of $93.80 and a 52 week high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.56 EPS. sell-side analysts predict that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.59%. PPG Industries’s dividend payout ratio (DPR) is currently 26.12%.
PPG Industries Company Profile
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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