Hyman Charles D continued to hold its stake in PPG Industries, Inc. (NYSE:PPG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,200 shares of the specialty chemicals company’s stock at the end of the first quarter. Hyman Charles D’s holdings in PPG Industries were worth $441,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of PPG. Thrivent Financial for Lutherans boosted its stake in shares of PPG Industries by 6.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 23,150 shares of the specialty chemicals company’s stock worth $2,194,000 after buying an additional 1,450 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PPG Industries by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 586,729 shares of the specialty chemicals company’s stock worth $55,602,000 after buying an additional 8,060 shares during the last quarter. Ledyard National Bank boosted its stake in shares of PPG Industries by 10.9% in the first quarter. Ledyard National Bank now owns 3,044 shares of the specialty chemicals company’s stock worth $320,000 after buying an additional 300 shares during the last quarter. Dodge & Cox purchased a new stake in shares of PPG Industries during the fourth quarter worth $1,706,000. Finally, LS Investment Advisors LLC boosted its stake in shares of PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock worth $3,266,000 after buying an additional 4,799 shares during the last quarter. 71.83% of the stock is owned by institutional investors.
PPG Industries, Inc. (PPG) opened at 110.57 on Friday. The firm has a market cap of $28.33 billion, a PE ratio of 33.85 and a beta of 1.54. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.49. The firm’s 50-day moving average price is $108.50 and its 200 day moving average price is $103.24.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.03. PPG Industries had a return on equity of 30.40% and a net margin of 5.79%. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the company posted $1.31 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities analysts anticipate that PPG Industries, Inc. will post $6.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.45%. PPG Industries’s dividend payout ratio is presently 48.93%.
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A number of brokerages have recently weighed in on PPG. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research note on Friday, May 26th. TheStreet raised PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Atlantic Securities raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $125.00 target price for the company in a research note on Wednesday, March 15th. Barclays PLC boosted their target price on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $110.00 target price (up from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $114.46.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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