Eudaimonia Partners LLC Reduces Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Eudaimonia Partners LLC lowered its stake in PPG Industries, Inc. (NYSE:PPGGet Rating) by 54.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,885 shares of the specialty chemicals company’s stock after selling 2,283 shares during the quarter. Eudaimonia Partners LLC’s holdings in PPG Industries were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund raised its stake in shares of PPG Industries by 8.2% in the third quarter. Illinois Municipal Retirement Fund now owns 37,230 shares of the specialty chemicals company’s stock worth $4,121,000 after buying an additional 2,817 shares during the period. CIBC Asset Management Inc raised its stake in PPG Industries by 8.9% during the 3rd quarter. CIBC Asset Management Inc now owns 31,540 shares of the specialty chemicals company’s stock valued at $3,491,000 after purchasing an additional 2,571 shares during the period. Creative Planning raised its stake in PPG Industries by 3.1% during the 3rd quarter. Creative Planning now owns 40,855 shares of the specialty chemicals company’s stock valued at $4,522,000 after purchasing an additional 1,216 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in PPG Industries by 10.8% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 19,385 shares of the specialty chemicals company’s stock valued at $2,146,000 after purchasing an additional 1,890 shares during the period. Finally, Barclays PLC raised its stake in PPG Industries by 57.0% during the 3rd quarter. Barclays PLC now owns 341,166 shares of the specialty chemicals company’s stock valued at $37,765,000 after purchasing an additional 123,846 shares during the period. Institutional investors own 80.04% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Northcoast Research began coverage on PPG Industries in a research note on Thursday, October 13th. They set a “neutral” rating on the stock. Royal Bank of Canada downgraded PPG Industries from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $128.00 to $129.00 in a research note on Tuesday, January 10th. Credit Suisse Group lifted their price objective on PPG Industries from $104.00 to $118.00 and gave the stock an “underperform” rating in a research note on Friday, January 20th. Wells Fargo & Company lifted their price objective on PPG Industries from $115.00 to $124.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Bank of America reduced their price objective on PPG Industries from $164.00 to $143.00 in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Hold” and an average price target of $135.55.

PPG Industries Trading Up 0.5 %

PPG opened at $130.97 on Wednesday. The firm has a market cap of $30.78 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.70 and a beta of 1.18. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $159.16. The stock has a fifty day moving average price of $129.61 and a 200-day moving average price of $124.03.

PPG Industries (NYSE:PPGGet Rating) last released its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 6.73 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 17th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, February 16th. PPG Industries’s dividend payout ratio is currently 57.27%.

About PPG Industries

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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.

Further Reading

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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