Commonwealth Equity Services LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,215 shares of the specialty chemicals company’s stock after selling 3,170 shares during the quarter. Commonwealth Equity Services LLC’s holdings in PPG Industries were worth $7,022,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Baldwin Investment Management LLC grew its stake in shares of PPG Industries by 16.0% during the first quarter. Baldwin Investment Management LLC now owns 2,900 shares of the specialty chemicals company’s stock valued at $327,000 after purchasing an additional 400 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in shares of PPG Industries during the first quarter valued at approximately $463,000. GAM Holding AG bought a new stake in shares of PPG Industries during the first quarter valued at approximately $1,667,000. Ontario Teachers Pension Plan Board grew its stake in shares of PPG Industries by 27.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 21,790 shares of the specialty chemicals company’s stock valued at $2,459,000 after purchasing an additional 4,745 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of PPG Industries by 1,712.5% during the first quarter. Rockefeller Capital Management L.P. now owns 580 shares of the specialty chemicals company’s stock valued at $66,000 after purchasing an additional 548 shares during the last quarter. 78.49% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PPG opened at $116.85 on Wednesday. PPG Industries, Inc. has a fifty-two week low of $94.37 and a fifty-two week high of $121.29. The company has a market capitalization of $27.30 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20. The company has a current ratio of 1.40, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.17. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.39 earnings per share. Research analysts predict that PPG Industries, Inc. will post 6.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be issued a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.64%. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

In other news, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total transaction of $267,200.00. Following the sale, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

PPG has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price objective on the stock. in a report on Friday, March 22nd. Zacks Investment Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. BMO Capital Markets increased their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. Deutsche Bank increased their price objective on shares of PPG Industries from $120.00 to $134.00 and gave the company a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Finally, KeyCorp increased their price objective on shares of PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $117.89.

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PPG Industries 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.

Further Reading: What is a Leveraged Buyout (LBO)?

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

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