Livforsakringsbolaget Skandia Omsesidigt trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 14.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,388 shares of the specialty chemicals company’s stock after selling 1,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PPG Industries were worth $980,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $179,000. Ropes Wealth Advisors LLC boosted its position in shares of PPG Industries by 5.0% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 1,743 shares of the specialty chemicals company’s stock worth $192,000 after acquiring an additional 83 shares in the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $200,000. Sun Life Financial INC boosted its position in shares of PPG Industries by 12,386.7% during the 2nd quarter. Sun Life Financial INC now owns 1,873 shares of the specialty chemicals company’s stock worth $206,000 after acquiring an additional 1,858 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its position in shares of PPG Industries by 188.3% during the 3rd quarter. NEXT Financial Group Inc now owns 1,903 shares of the specialty chemicals company’s stock worth $216,000 after acquiring an additional 1,243 shares in the last quarter. 75.01% of the stock is owned by hedge funds and other institutional investors.
Shares of PPG Industries, Inc. (NYSE PPG) opened at $118.44 on Friday. The stock has a market capitalization of $30,140.00, a PE ratio of 21.73, a P/E/G ratio of 2.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. PPG Industries, Inc. has a 1 year low of $97.87 and a 1 year high of $122.07.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.19 EPS. research analysts anticipate that PPG Industries, Inc. will post 6.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s dividend payout ratio is presently 33.03%.
PPG Industries announced that its board has approved a stock buyback plan on Thursday, December 14th that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
PPG has been the subject of several analyst reports. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Credit Suisse Group set a $119.00 price objective on PPG Industries and gave the stock a “buy” rating in a research report on Friday, October 20th. Jefferies Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Thursday, October 19th. Bank of America set a $120.00 price objective on PPG Industries and gave the stock a “hold” rating in a research report on Friday, October 20th. Finally, Citigroup upped their price objective on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $123.47.
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About PPG Industries
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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