AMP Capital Investors Ltd increased its stake in PPG Industries, Inc. (NYSE:PPG) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,069 shares of the specialty chemicals company’s stock after purchasing an additional 847 shares during the quarter. AMP Capital Investors Ltd’s holdings in PPG Industries were worth $8,003,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in PPG. National Pension Service grew its holdings in shares of PPG Industries by 14.2% during the second quarter. National Pension Service now owns 343,543 shares of the specialty chemicals company’s stock valued at $40,095,000 after buying an additional 42,696 shares during the last quarter. Rampart Investment Management Company LLC grew its holdings in shares of PPG Industries by 1.4% during the second quarter. Rampart Investment Management Company LLC now owns 12,364 shares of the specialty chemicals company’s stock valued at $1,443,000 after buying an additional 165 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of PPG Industries by 13.6% during the second quarter. Asset Management One Co. Ltd. now owns 127,714 shares of the specialty chemicals company’s stock valued at $14,904,000 after buying an additional 15,290 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of PPG Industries during the second quarter valued at $549,000. Finally, Laurion Capital Management LP purchased a new stake in PPG Industries in the second quarter valued at $233,000. 77.30% of the stock is currently owned by institutional investors.
In related news, VP Vadlamannati Ramaprasad sold 13,904 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the completion of the transaction, the vice president now owns 29,617 shares in the company, valued at approximately $3,468,743.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael H. Mcgarry sold 12,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the transaction, the chief executive officer now owns 131,434 shares of the company’s stock, valued at approximately $15,772,080. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Shares of PPG Industries stock opened at $118.22 on Friday. The firm has a 50-day simple moving average of $113.80 and a two-hundred day simple moving average of $114.06. The company has a market cap of $27.57 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. PPG Industries, Inc. has a fifty-two week low of $94.37 and a fifty-two week high of $121.29. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.43.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.02. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.10 billion. PPG Industries had a net margin of 8.07% and a return on equity of 27.89%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Equities research analysts forecast that PPG Industries, Inc. will post 6.27 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is 34.46%.
Several research firms have commented on PPG. Citigroup lowered their price target on shares of PPG Industries from $136.00 to $133.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Credit Suisse Group set a $115.00 price target on shares of PPG Industries and gave the company a “hold” rating in a report on Friday, July 19th. Societe Generale began coverage on shares of PPG Industries in a report on Tuesday, July 9th. They issued a “buy” rating and a $138.00 price target on the stock. Barclays upped their price target on shares of PPG Industries from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. Finally, ValuEngine lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $122.33.
About PPG Industries
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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