PPG Industries, Inc. (NYSE:PPG) Stock Holdings Increased by Private Advisor Group LLC

Posted by Defense World Staff on Apr 6th, 2023

Private Advisor Group LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,410 shares of the specialty chemicals company’s stock after acquiring an additional 825 shares during the period. Private Advisor Group LLC’s holdings in PPG Industries were worth $1,309,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PPG. Vontobel Holding Ltd. raised its stake in PPG Industries by 51.9% during the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after acquiring an additional 2,048 shares in the last quarter. Sei Investments Co. raised its stake in shares of PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock worth $3,099,000 after buying an additional 3,025 shares in the last quarter. Prudential PLC bought a new stake in shares of PPG Industries in the 1st quarter worth $619,000. Vanguard Group Inc. raised its stake in shares of PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after buying an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after buying an additional 1,283 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $138.95 on Thursday. PPG Industries, Inc. has a fifty-two week low of $107.06 and a fifty-two week high of $140.22. The business has a 50-day moving average of $129.60 and a two-hundred day moving average of $125.26. The stock has a market capitalization of $32.70 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.91 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts predict that PPG Industries, Inc. will post 6.49 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 1.78%. PPG Industries’s dividend payout ratio is presently 57.27%.

Analyst Ratings Changes

PPG has been the topic of a number of research reports. UBS Group boosted their price objective on PPG Industries from $144.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, January 11th. Royal Bank of Canada boosted their target price on PPG Industries from $133.00 to $143.00 and gave the stock a “sector perform” rating in a research report on Tuesday. BNP Paribas lowered PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Monday, January 23rd. Morgan Stanley boosted their target price on PPG Industries from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, KeyCorp lifted their price target on PPG Industries from $144.00 to $159.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $139.95.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 21,757 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the completion of the transaction, the vice president now owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PPG Industries news, VP Anne M. Foulkes sold 21,757 shares of the company’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the transaction, the vice president now owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael H. Mcgarry sold 61,867 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total value of $8,040,235.32. Following the completion of the transaction, the chairman now directly owns 183,645 shares of the company’s stock, valued at approximately $23,866,504.20. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

PPG Industries Company Profile

(Get Rating)

PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.