PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sawtooth Solutions LLC
Sawtooth Solutions LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 20.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,144 shares of the specialty chemicals company’s stock after selling 551 shares during the period. Sawtooth Solutions LLC’s holdings in PPG Industries were worth $242,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PPG. Trian Fund Management L.P. lifted its stake in PPG Industries by 69.2% during the fourth quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock worth $716,572,000 after purchasing an additional 2,866,150 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of PPG Industries by 10,003.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 2,782,589 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PPG Industries by 2.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock valued at $2,468,246,000 after buying an additional 643,315 shares during the period. Norges Bank bought a new position in shares of PPG Industries during the 4th quarter valued at $36,143,000. Finally, Deutsche Bank AG lifted its holdings in shares of PPG Industries by 24.0% during the 4th quarter. Deutsche Bank AG now owns 1,341,354 shares of the specialty chemicals company’s stock valued at $137,116,000 after buying an additional 259,442 shares during the period. 78.49% of the stock is owned by institutional investors.
In other PPG Industries news, 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 value of $267,200.00. Following the completion of the sale, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.69 billion. PPG Industries had a return on equity of 28.72% and a net margin of 8.67%. PPG Industries’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 6.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.48 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.92 annualized dividend and a dividend yield of 1.64%. PPG Industries’s dividend payout ratio (DPR) is 32.43%.
Several research firms have recently weighed in on PPG. JPMorgan Chase & Co. cut PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price target on the stock. in a report on Friday, March 22nd. Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Barclays increased their price target on PPG Industries from $115.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. KeyCorp increased their price target on PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Buckingham Research increased their price target on PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $117.89.
COPYRIGHT VIOLATION NOTICE: “PPG Industries, Inc. (NYSE:PPG) Shares Sold by Sawtooth Solutions LLC” was reported 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 reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2019/06/12/ppg-industries-inc-nyseppg-shares-sold-by-sawtooth-solutions-llc.html.
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.
Read More: What is the Coverage Ratio?
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG).
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.