Pacer Advisors Inc. Has $6.23 Million Position in PPG Industries, Inc. (NYSE:PPG)

Pacer Advisors Inc. grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 181.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,047 shares of the specialty chemicals company’s stock after purchasing an additional 30,322 shares during the quarter. Pacer Advisors Inc.’s holdings in PPG Industries were worth $6,232,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vest Financial LLC increased its holdings in PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after purchasing an additional 75,620 shares during the period. BDF Gestion acquired a new stake in shares of PPG Industries in the second quarter valued at about $3,452,000. Equity Investment Corp raised its position in shares of PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management acquired a new position in shares of PPG Industries in the third quarter worth approximately $604,000. Finally, Swedbank AB boosted its holdings in PPG Industries by 6.3% in the second quarter. Swedbank AB now owns 158,761 shares of the specialty chemicals company’s stock valued at $19,986,000 after acquiring an additional 9,412 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Down 0.0 %

PPG Industries stock opened at $122.65 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm’s fifty day moving average price is $127.00 and its two-hundred day moving average price is $127.40. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Wall Street Analyst Weigh In

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

PPG Industries Company Profile

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.