Thrivent Financial for Lutherans Buys 2,202 Shares of PPG Industries, Inc. (NYSE:PPG)

Thrivent Financial for Lutherans grew its stake in PPG Industries, Inc. (NYSE:PPG) by 9.1% in the third quarter, HoldingsChannel reports. The fund owned 26,493 shares of the specialty chemicals company’s stock after acquiring an additional 2,202 shares during the period. Thrivent Financial for Lutherans’ holdings in PPG Industries were worth $3,509,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in PPG Industries by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after acquiring an additional 3,448 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of PPG Industries by 0.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company’s stock worth $4,040,000 after buying an additional 171 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of PPG Industries by 29.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock worth $732,000 after buying an additional 1,158 shares during the last quarter. California State Teachers Retirement System boosted its stake in PPG Industries by 3.8% in the first quarter. California State Teachers Retirement System now owns 427,262 shares of the specialty chemicals company’s stock valued at $61,910,000 after acquiring an additional 15,701 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in PPG Industries by 145.0% during the 1st quarter. Tidal Investments LLC now owns 23,584 shares of the specialty chemicals company’s stock worth $3,417,000 after acquiring an additional 13,959 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 2.6 %

PPG stock opened at $125.81 on Tuesday. The business has a 50-day moving average of $126.97 and a 200-day moving average of $127.34. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The stock has a market capitalization of $29.19 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. PPG Industries’s dividend payout ratio is 43.11%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of analyst reports. Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by corporate insiders.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.