PPG Industries, Inc. $PPG Stock: Eurizon Capital SGR S.p.A. Increases Stake

Eurizon Capital SGR S.p.A. lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 534,180 shares of the specialty chemicals company’s stock after purchasing an additional 26,990 shares during the quarter. Eurizon Capital SGR S.p.A. owned 0.24% of PPG Industries worth $55,763,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. bought a new position in PPG Industries in the second quarter valued at approximately $2,856,392,000. State Street Corp raised its holdings in shares of PPG Industries by 8.8% during the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after acquiring an additional 1,124,109 shares during the period. Pzena Investment Management LLC bought a new stake in PPG Industries in the 2nd quarter valued at $946,964,000. Dimensional Fund Advisors LP lifted its position in PPG Industries by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock valued at $312,613,000 after acquiring an additional 58,411 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in PPG Industries in the 2nd quarter valued at $318,870,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Monday, September 14th. Sanford C. Bernstein restated an “outperform” rating and issued a $137.00 price target on shares of PPG Industries in a report on Thursday, October 29th. Barclays upped their price objective on PPG Industries from $136.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Citigroup raised their price target on shares of PPG Industries from $118.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $123.00 and gave the company a “sector perform” rating in a research report on Thursday, October 29th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.29.

PPG Industries Price Performance

NYSE:PPG opened at $122.38 on Friday. The firm’s fifty day moving average price is $110.78 and its two-hundred day moving average price is $113.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.58 and a quick ratio of 1.15. The company has a market cap of $27.03 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.15 and a beta of 1.00. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. PPG Industries’s revenue was up 6.6% compared to the same quarter last year. Equities analysts expect that PPG Industries, Inc. will post 7.98 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.74 per share. The ex-dividend date is Tuesday, November 10th. This represents a $2.96 annualized dividend and a yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

Insider Transactions at PPG Industries

In other news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the sale, the vice president owned 9,761 shares in the company, valued at $1,241,013.54. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.