Sentry Investment Management LLC lessened its position in PPG Industries, Inc. (NYSE:PPG) by 9.2% in the 2nd quarter, Holdings Channel reports. The fund owned 16,804 shares of the specialty chemicals company’s stock after selling 1,710 shares during the period. Sentry Investment Management LLC’s holdings in PPG Industries were worth $1,743,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in PPG Industries by 15.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 22,112,913 shares of the specialty chemicals company’s stock worth $2,293,772,000 after buying an additional 2,995,436 shares during the period. BlackRock Inc. increased its position in PPG Industries by 0.6% during the 1st quarter. BlackRock Inc. now owns 15,027,286 shares of the specialty chemicals company’s stock valued at $1,677,045,000 after purchasing an additional 83,572 shares during the period. Parnassus Investments CA increased its position in PPG Industries by 68.1% during the 2nd quarter. Parnassus Investments CA now owns 4,256,434 shares of the specialty chemicals company’s stock valued at $441,520,000 after purchasing an additional 1,724,631 shares during the period. Aristotle Capital Management LLC increased its position in PPG Industries by 6.5% during the 1st quarter. Aristotle Capital Management LLC now owns 3,401,374 shares of the specialty chemicals company’s stock valued at $379,593,000 after purchasing an additional 208,087 shares during the period. Finally, Wells Fargo & Company MN increased its position in PPG Industries by 1.4% during the 2nd quarter. Wells Fargo & Company MN now owns 3,379,358 shares of the specialty chemicals company’s stock valued at $350,542,000 after purchasing an additional 46,243 shares during the period. Hedge funds and other institutional investors own 78.03% of the company’s stock.

A number of research firms have commented on PPG. ValuEngine raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Citigroup cut their target price on shares of PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 11th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 15th. SunTrust Banks reissued a “hold” rating and set a $110.00 target price on shares of PPG Industries in a research report on Friday, July 20th. Finally, Jefferies Financial Group downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $122.29.

NYSE:PPG opened at $110.66 on Friday. PPG Industries, Inc. has a fifty-two week low of $100.36 and a fifty-two week high of $122.07. The stock has a market capitalization of $26.59 billion, a PE ratio of 18.85, a PEG ratio of 2.12 and a beta of 1.51. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 1.01.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 19th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. PPG Industries had a net margin of 9.87% and a return on equity of 27.36%. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the business earned $1.83 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. equities research analysts forecast that PPG Industries, Inc. will post 6.2 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Friday, August 10th will be issued a $0.48 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, August 9th. PPG Industries’s dividend payout ratio (DPR) is currently 32.71%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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