Analytic Investors LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 83.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,314 shares of the company’s stock after selling 11,307 shares during the period. Analytic Investors LLC’s holdings in PPG Industries were worth $239,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in shares of PPG Industries by 1,076.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,047 shares of the company’s stock worth $108,000 after buying an additional 958 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of PPG Industries by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,375 shares of the company’s stock worth $141,000 after buying an additional 672 shares during the last quarter. Concert Wealth Management Inc. boosted its position in shares of PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock worth $203,000 after buying an additional 166 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in shares of PPG Industries during the third quarter worth approximately $203,000. Finally, BKD Wealth Advisors LLC acquired a new position in shares of PPG Industries during the third quarter worth approximately $204,000. Institutional investors own 72.47% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE:PPG) traded up 0.41% on Friday, hitting $100.54. 1,304,232 shares of the stock traded hands. The stock’s 50 day moving average price is $98.26 and its 200 day moving average price is $99.16. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $117.00. The stock has a market cap of $26.54 billion, a P/E ratio of 30.64 and a beta of 1.39.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 19th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The firm earned $3.50 billion during the quarter, compared to analyst estimates of $3.55 billion. PPG Industries had a net margin of 5.84% and a return on equity of 29.94%. The business’s revenue was down 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. On average, equities analysts expect that PPG Industries, Inc. will post $6.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 17th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, February 15th. PPG Industries’s dividend payout ratio is presently 48.93%.
A number of research firms have issued reports on PPG. Jefferies Group LLC restated a “buy” rating and issued a $113.00 price objective (down previously from $129.00) on shares of PPG Industries in a research report on Monday, October 24th. Bank of America Corporation began coverage on shares of PPG Industries in a research report on Monday, December 5th. They issued a “buy” rating on the stock. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $111.00 price objective (down previously from $119.00) on shares of PPG Industries in a research report on Thursday, October 13th. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 12th. Finally, TheStreet cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, November 21st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $111.92.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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