Parametric Portfolio Associates LLC Acquires 60,591 Shares of PPG Industries, Inc. (NYSE:PPG)
Parametric Portfolio Associates LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 829,803 shares of the specialty chemicals company’s stock after acquiring an additional 60,591 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.35% of PPG Industries worth $96,846,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Cornerstone Advisors Inc. grew its position in PPG Industries by 13.3% during the second quarter. Cornerstone Advisors Inc. now owns 749 shares of the specialty chemicals company’s stock worth $87,000 after buying an additional 88 shares in the last quarter. Wedbush Securities Inc. lifted its stake in PPG Industries by 2.7% in the second quarter. Wedbush Securities Inc. now owns 3,828 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 99 shares during the last quarter. Ballentine Partners LLC lifted its stake in PPG Industries by 0.8% in the first quarter. Ballentine Partners LLC now owns 13,266 shares of the specialty chemicals company’s stock worth $1,497,000 after purchasing an additional 106 shares during the last quarter. Berman Capital Advisors LLC lifted its stake in PPG Industries by 49.5% in the first quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after purchasing an additional 107 shares during the last quarter. Finally, BerganKDV Wealth Management LLC lifted its stake in PPG Industries by 1.2% in the first quarter. BerganKDV Wealth Management LLC now owns 9,219 shares of the specialty chemicals company’s stock worth $1,041,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 77.33% of the company’s stock.
Several analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Bank of America lowered shares of PPG Industries from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $135.00 to $103.00 in a report on Friday, August 16th. SunTrust Banks reissued a “hold” rating and set a $123.00 price objective on shares of PPG Industries in a report on Friday, July 19th. They noted that the move was a valuation call. Barclays boosted their price objective on shares of PPG Industries from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, Societe Generale began coverage on shares of PPG Industries in a report on Tuesday, July 9th. They set a “buy” rating and a $138.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $122.33.
NYSE PPG traded up $1.33 on Friday, reaching $119.54. 22,539 shares of the company’s stock traded hands, compared to its average volume of 937,566. The firm has a market cap of $28.25 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 2.04 and a beta of 1.23. The stock has a 50 day moving average price of $113.06 and a 200-day moving average price of $113.53. 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 debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.43.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.10 billion. PPG Industries had a net margin of 8.07% and a return on equity of 27.89%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 6.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a $0.51 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is 34.46%.
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.
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