PPG Industries, Inc. (PPG) Position Held by White Pine Capital LLC

White Pine Capital LLC maintained its stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,490 shares of the specialty chemicals company’s stock at the close of the second quarter. White Pine Capital LLC’s holdings in PPG Industries were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Wealth Management LLC acquired a new position in PPG Industries during the 2nd quarter worth about $112,000. State of Alaska Department of Revenue acquired a new position in PPG Industries during the 2nd quarter worth about $113,000. First Interstate Bank lifted its holdings in PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after buying an additional 35 shares during the period. Global X Management Co. LLC lifted its holdings in PPG Industries by 26.7% during the 1st quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the period. Finally, Robecosam AG lifted its holdings in PPG Industries by 66.7% during the 1st quarter. Robecosam AG now owns 1,500 shares of the specialty chemicals company’s stock worth $158,000 after buying an additional 600 shares during the period. 74.17% of the stock is currently owned by hedge funds and other institutional investors.

In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the sale, the insider now directly owns 15,545 shares in the company, valued at $1,593,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the sale, the vice president now owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

A number of research analysts have recently issued reports on the company. Bank of America Corporation downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research note on Monday, July 24th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research note on Thursday, July 6th. Deutsche Bank AG boosted their price objective on PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Finally, BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $115.19.

Shares of PPG Industries, Inc. (PPG) traded up 1.79% during mid-day trading on Monday, reaching $105.44. The company had a trading volume of 146,649 shares. The firm has a 50-day moving average of $104.11 and a 200-day moving average of $106.57. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a market capitalization of $27.04 billion, a P/E ratio of 27.74 and a beta of 1.55.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business posted $1.73 earnings per share. PPG Industries’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, August 8th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.74%. PPG Industries’s dividend payout ratio (DPR) is 46.88%.

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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.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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