Retirement Systems of Alabama trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,294 shares of the specialty chemicals company’s stock after selling 2,760 shares during the period. Retirement Systems of Alabama’s holdings in PPG Industries were worth $9,467,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Stratos Wealth Advisors LLC grew its holdings in PPG Industries by 57.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 6,864 shares of the specialty chemicals company’s stock valued at $863,000 after purchasing an additional 2,507 shares during the period. Profund Advisors LLC grew its holdings in PPG Industries by 10.5% during the fourth quarter. Profund Advisors LLC now owns 6,840 shares of the specialty chemicals company’s stock valued at $860,000 after purchasing an additional 648 shares during the period. Romano Brothers AND Company acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $141,000. Mutual of America Capital Management LLC boosted its holdings in shares of PPG Industries by 0.7% in the third quarter. Mutual of America Capital Management LLC now owns 42,137 shares of the specialty chemicals company’s stock valued at $4,664,000 after buying an additional 312 shares during the period. Finally, Haverford Trust Co boosted its holdings in shares of PPG Industries by 54.3% in the third quarter. Haverford Trust Co now owns 9,377 shares of the specialty chemicals company’s stock valued at $1,038,000 after buying an additional 3,300 shares during the period. 80.04% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on PPG. KeyCorp upped their price target on shares of PPG Industries from $162.00 to $169.00 in a report on Monday, April 24th. BMO Capital Markets increased their target price on shares of PPG Industries from $151.00 to $158.00 in a report on Tuesday, April 25th. Royal Bank of Canada increased their target price on shares of PPG Industries from $143.00 to $145.00 in a report on Monday, April 24th. StockNews.com began coverage on shares of PPG Industries in a report on Thursday, March 16th. They set a “buy” rating for the company. Finally, Vertical Research cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, January 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, PPG Industries has an average rating of “Hold” and a consensus price target of $147.74.
PPG Industries Price Performance
PPG Industries (NYSE:PPG – Get Rating) last issued its earnings results on Friday, April 21st. The specialty chemicals company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.55 by $0.27. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.39 billion. PPG Industries had a net margin of 7.18% and a return on equity of 23.35%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 7.27 EPS for the current fiscal year.
PPG Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 10th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Tuesday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 46.27%.
PPG Industries Profile
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.
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