Pacer Advisors Inc. raised its stake in PPG Industries, Inc. (NYSE:PPG) by 3.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,197 shares of the specialty chemicals company’s stock after buying an additional 165 shares during the period. Pacer Advisors Inc.’s holdings in PPG Industries were worth $546,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cable Hill Partners LLC boosted its position in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 77 shares in the last quarter. Baystate Wealth Management LLC boosted its stake in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the period. Coconut Grove Bank boosted its stake in PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the period. Massmutual Trust Co. FSB ADV purchased a new stake in PPG Industries during the fourth quarter worth approximately $137,000. Finally, First Personal Financial Services boosted its stake in PPG Industries by 12.1% in the first quarter. First Personal Financial Services now owns 1,561 shares of the specialty chemicals company’s stock worth $164,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 71.83% of the company’s stock.
Shares of PPG Industries, Inc. (PPG) traded down 0.01% during trading on Monday, reaching $111.15. The company had a trading volume of 490,485 shares. PPG Industries, Inc. has a 52 week low of $89.64 and a 52 week high of $113.49. The company has a market capitalization of $28.48 billion, a PE ratio of 34.03 and a beta of 1.54. The stock’s 50-day moving average price is $108.43 and its 200-day moving average price is $102.92.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.53 billion. PPG Industries had a return on equity of 30.40% and a net margin of 5.79%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 EPS. On average, equities analysts expect that PPG Industries, Inc. will post $6.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Wednesday, May 10th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Monday, May 8th. PPG Industries’s payout ratio is 48.93%.
A number of analysts recently commented on the company. Citigroup Inc. reiterated a “market perform” rating on shares of PPG Industries in a research report on Friday, April 14th. Jefferies Group LLC reiterated a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research report on Friday, May 26th. Atlantic Securities upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $125.00 price target for the company in a research report on Wednesday, March 15th. Wells Fargo & Company cut PPG Industries from an “outperform” rating to a “market perform” rating in a research report on Thursday, March 9th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $110.00 price target (up previously from $102.00) on shares of PPG Industries in a research report on Sunday, April 23rd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PPG Industries currently has an average rating of “Hold” and an average target price of $114.46.
About PPG Industries
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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