Qube Research & Technologies Ltd lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 20.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,910 shares of the specialty chemicals company’s stock after selling 1,008 shares during the quarter. Qube Research & Technologies Ltd’s holdings in PPG Industries were worth $456,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PPG. American National Bank acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $25,000. Coastal Investment Advisors Inc. boosted its holdings in shares of PPG Industries by 280.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 168 shares in the last quarter. Westside Investment Management Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth approximately $29,000. Zions Bancorporation N.A. bought a new position in shares of PPG Industries during the 1st quarter worth approximately $34,000. Finally, Berman Capital Advisors LLC boosted its holdings in shares of PPG Industries by 49.5% during the 1st quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 107 shares in the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.
PPG has been the topic of a number of research analyst reports. Buckingham Research increased their price target on PPG Industries from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. BMO Capital Markets increased their price target on PPG Industries from $112.00 to $113.00 and gave the stock a “market perform” rating in a report on Wednesday, May 1st. Citigroup set a $133.00 price target on PPG Industries and gave the stock a “buy” rating in a report on Friday, July 19th. Bank of America cut PPG Industries from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $135.00 to $103.00 in a report on Friday. Finally, Deutsche Bank increased their price target on PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $122.33.
In related news, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the sale, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $107.16, for a total value of $72,225.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,078 shares of company stock worth $1,967,862. 0.37% of the stock is owned by company insiders.
Shares of PPG traded down $0.98 during trading hours on Tuesday, reaching $110.64. The stock had a trading volume of 1,779 shares, compared to its average volume of 1,255,825. PPG Industries, Inc. has a 12 month low of $94.37 and a 12 month high of $121.29. The firm has a 50-day simple moving average of $115.83 and a 200 day simple moving average of $113.06. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $26.37 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.92 and a beta of 1.22.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business earned $1.90 EPS. PPG Industries’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, equities analysts forecast that PPG Industries, Inc. will post 6.28 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a $0.51 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, August 9th. PPG Industries’s dividend payout ratio (DPR) is currently 34.46%.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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