Findlay Park Partners LLP Sells 650,000 Shares of PPG Industries, Inc. (PPG)
Findlay Park Partners LLP decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 44.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 822,798 shares of the specialty chemicals company’s stock after selling 650,000 shares during the quarter. Findlay Park Partners LLP owned about 0.32% of PPG Industries worth $89,405,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its holdings in shares of PPG Industries by 10,896.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 10,896 shares during the period. Bruderman Asset Management LLC bought a new stake in shares of PPG Industries during the 2nd quarter worth approximately $105,000. State of Alaska Department of Revenue bought a new stake in shares of PPG Industries during the 2nd quarter worth approximately $113,000. First Interstate Bank lifted its stake in shares of PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 35 shares during the last quarter. Finally, Global X Management Co. LLC lifted its stake in shares of PPG Industries by 9.2% during the 2nd quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 73.52% of the company’s stock.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research note on Friday, September 1st. Royal Bank Of Canada reissued a “hold” rating and set a $109.00 price target on shares of PPG Industries in a research note on Wednesday, September 13th. Bank of America Corporation lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a research note on Monday, July 24th. Finally, Citigroup Inc. raised their price target on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $119.36.
Shares of PPG Industries, Inc. (NYSE PPG) traded up $1.05 during midday trading on Tuesday, reaching $114.88. The company’s stock had a trading volume of 1,058,400 shares, compared to its average volume of 1,453,142. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The company has a market cap of $29,300.00, a price-to-earnings ratio of 19.33, a PEG ratio of 2.26 and a beta of 1.60. PPG Industries, Inc. has a 1-year low of $93.80 and a 1-year high of $119.85.
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. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. PPG Industries’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS. equities research analysts anticipate that PPG Industries, Inc. will post 5.9 earnings per share for the current year.
The business 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 $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.57%. PPG Industries’s dividend payout ratio is presently 35.86%.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/21/findlay-park-partners-llp-sells-650000-shares-of-ppg-industries-inc-ppg.html.
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.
Receive News & Stock Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related stocks with our FREE daily email newsletter.