SG Americas Securities LLC Increases Position in PPG Industries, Inc. (PPG)
SG Americas Securities LLC lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,645 shares of the specialty chemicals company’s stock after buying an additional 4,341 shares during the period. SG Americas Securities LLC’s holdings in PPG Industries were worth $3,765,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Research Global Investors purchased a new position in PPG Industries in the 2nd quarter worth approximately $192,226,000. American Century Companies Inc. increased its stake in PPG Industries by 408.2% in the 3rd quarter. American Century Companies Inc. now owns 1,878,315 shares of the specialty chemicals company’s stock worth $204,098,000 after purchasing an additional 1,508,715 shares during the period. Nordea Investment Management AB increased its stake in PPG Industries by 52.6% in the 2nd quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock worth $303,297,000 after purchasing an additional 950,967 shares during the period. Pioneer Investment Management Inc. increased its stake in PPG Industries by 208.1% in the 2nd quarter. Pioneer Investment Management Inc. now owns 1,183,124 shares of the specialty chemicals company’s stock worth $130,096,000 after purchasing an additional 799,098 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in PPG Industries in the 3rd quarter worth approximately $63,331,000. 73.52% of the stock is currently owned by institutional investors.
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PPG Industries, Inc. (PPG) traded up $1.05 during trading hours 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. PPG Industries, Inc. has a twelve month low of $93.80 and a twelve month high of $119.85. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. The company has a market capitalization 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 (NYSE:PPG) last released its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the previous year, the company posted $1.56 earnings per share. PPG Industries’s revenue for the quarter was up 3.2% on a year-over-year basis. equities analysts anticipate that PPG Industries, Inc. will post 5.9 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis 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 35.86%.
A number of brokerages have recently weighed in on PPG. BidaskClub lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a research report on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and set a $109.00 price target on shares of PPG Industries in a research report 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 on the stock. in a research report on Monday, July 24th. Finally, Citigroup Inc. lifted their price target on PPG Industries from $112.00 to $114.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. PPG Industries presently has an average rating of “Hold” and an average price target of $119.36.
PPG Industries 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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