Credit Suisse AG boosted its holdings in PPG Industries, Inc. (NYSE:PPG – Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,761 shares of the specialty chemicals company’s stock after purchasing an additional 11,762 shares during the quarter. Credit Suisse AG owned about 0.16% of PPG Industries worth $50,862,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of PPG. Clear Street Markets LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $30,000. Massmutual Trust Co. FSB ADV raised its stake in shares of PPG Industries by 90.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 115 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of PPG Industries by 160.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 260 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 160 shares during the period. Parkside Financial Bank & Trust increased its stake in PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 87 shares during the period. Finally, Ellevest Inc. boosted its holdings in shares of PPG Industries by 52.9% in the fourth quarter. Ellevest Inc. now owns 318 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 78.95% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on PPG. StockNews.com assumed coverage on PPG Industries in a research note on Thursday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $156.00 in a research note on Monday, April 24th. Credit Suisse Group lifted their price objective on PPG Industries from $133.00 to $140.00 and gave the stock an “underperform” rating in a report on Friday, July 21st. Citigroup upped their target price on PPG Industries from $161.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, BMO Capital Markets lifted their price target on PPG Industries from $158.00 to $165.00 and gave the stock an “outperform” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.47.
Insider Buying and Selling
In other news, Chairman Michael H. Mcgarry sold 58,378 shares of the stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $145.46, for a total transaction of $8,491,663.88. Following the transaction, the chairman now owns 195,706 shares of the company’s stock, valued at $28,467,394.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PPG Industries news, Chairman Michael H. Mcgarry sold 58,378 shares of PPG Industries stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $145.46, for a total value of $8,491,663.88. Following the completion of the transaction, the chairman now owns 195,706 shares of the company’s stock, valued at $28,467,394.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vincent J. Morales sold 3,700 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total transaction of $530,321.00. Following the sale, the chief financial officer now directly owns 22,665 shares in the company, valued at $3,248,574.45. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
PPG Industries Trading Up 1.1 %
Shares of PPG opened at $139.53 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.49 and a quick ratio of 1.03. PPG Industries, Inc. has a 12 month low of $107.40 and a 12 month high of $152.89. The stock has a market cap of $32.86 billion, a PE ratio of 25.05, a P/E/G ratio of 1.12 and a beta of 1.18. The stock’s 50-day moving average is $144.25 and its two-hundred day moving average is $137.76.
PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings results on Friday, July 21st. The specialty chemicals company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.11. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.84 billion. PPG Industries had a net margin of 7.38% and a return on equity of 23.59%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.51 earnings per share for the current fiscal year.
PPG Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, August 9th. PPG Industries’s dividend payout ratio is presently 46.68%.
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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