FDx Advisors Inc. trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 71.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,079 shares of the specialty chemicals company’s stock after selling 5,175 shares during the period. FDx Advisors Inc.’s holdings in PPG Industries were worth $308,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Harbour Investments Inc. boosted its stake in shares of PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 101 shares during the last quarter. Clear Street Markets LLC acquired a new position in shares of PPG Industries during the 4th quarter worth about $30,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of PPG Industries by 90.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 242 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Tilia Fiduciary Partners Inc. boosted its stake in shares of PPG Industries by 149.0% during the 2nd quarter. Tilia Fiduciary Partners Inc. now owns 254 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 152 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of PPG Industries by 160.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 260 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 160 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently issued reports on PPG. Barclays raised their target price on shares of PPG Industries from $150.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. KeyCorp raised their target price on shares of PPG Industries from $171.00 to $172.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Bank of America raised their target price on shares of PPG Industries from $163.00 to $170.00 in a report on Monday, July 24th. Royal Bank of Canada raised their target price on shares of PPG Industries from $145.00 to $158.00 and gave the stock a “sector perform” rating in a report on Monday, July 24th. Finally, Morgan Stanley raised their target price on shares of PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $156.47.
PPG Industries Stock Performance
NYSE PPG opened at $129.80 on Friday. The firm’s fifty day moving average price is $137.90 and its two-hundred day moving average price is $138.77. The stock has a market cap of $30.57 billion, a PE ratio of 23.30, a PEG ratio of 1.05 and a beta of 1.18. PPG Industries, Inc. has a fifty-two week low of $107.40 and a fifty-two week high of $152.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.03 and a current ratio of 1.49.
PPG Industries (NYSE:PPG – Get Free Report) last posted its earnings results on Friday, July 21st. The specialty chemicals company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.11. The firm had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.84 billion. PPG Industries had a net margin of 7.38% and a return on equity of 23.59%. The company’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, equities analysts expect that PPG Industries, Inc. will post 7.51 EPS for the current fiscal year.
PPG Industries Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Wednesday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.62. PPG Industries’s payout ratio is presently 46.68%.
Insider Transactions at PPG Industries
In other 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 transaction of $8,491,663.88. Following the transaction, the chairman now owns 195,706 shares in the company, valued at $28,467,394.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 transaction of $8,491,663.88. Following the transaction, the chairman now owns 195,706 shares in the company, valued at $28,467,394.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vincent J. Morales sold 3,700 shares of PPG Industries 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 transaction, the chief financial officer now owns 22,665 shares in the company, valued at approximately $3,248,574.45. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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