Crossmark Global Holdings Inc. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,174 shares of the specialty chemicals company’s stock, valued at approximately $2,844,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in PPG Industries by 1.6% during the second quarter. Vanguard Group Inc. now owns 19,751,232 shares of the specialty chemicals company’s stock worth $2,171,845,000 after buying an additional 310,086 shares during the period. BlackRock Inc. lifted its position in PPG Industries by 2,006.8% during the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after buying an additional 13,902,595 shares during the period. Clearbridge Investments LLC lifted its position in PPG Industries by 4.7% during the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after buying an additional 222,376 shares during the period. Nordea Investment Management AB increased its stake in PPG Industries by 52.6% during the second quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock worth $303,297,000 after acquiring an additional 950,967 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in PPG Industries by 11.6% during the second quarter. Wells Fargo & Company MN now owns 2,702,372 shares of the specialty chemicals company’s stock worth $297,153,000 after acquiring an additional 281,730 shares during the last quarter. Institutional investors own 74.67% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE PPG) opened at $114.55 on Tuesday. PPG Industries, Inc. has a 1 year low of $93.80 and a 1 year high of $119.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. The company has a market capitalization of $29,180.75, a P/E ratio of 19.47, a P/E/G ratio of 2.28 and a beta of 1.59.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period last year, the firm earned $1.56 EPS. The firm’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 company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend 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 presently 26.12%.
In related news, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the transaction, the insider now directly owns 15,545 shares in the company, valued at approximately $1,593,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.
Several equities research analysts have commented on PPG shares. Robert W. Baird restated a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research note on Friday, September 1st. Bank of America Corporation set a $120.00 target price on PPG Industries and gave the company a “hold” rating in a research note on Friday, October 20th. Royal Bank Of Canada reiterated a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a research note on Wednesday, September 13th. Deutsche Bank AG increased their target price on PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Finally, Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price 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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