PPG Industries, Inc. (PPG) Shares Bought by 1ST Source Bank

1ST Source Bank raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 14.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,373 shares of the specialty chemicals company’s stock after buying an additional 541 shares during the quarter. 1ST Source Bank’s holdings in PPG Industries were worth $475,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Investment Partners Ltd. OH ADV lifted its holdings in shares of PPG Industries by 0.3% during the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock worth $273,000 after buying an additional 7 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of PPG Industries by 0.3% during the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after buying an additional 12 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC lifted its holdings in shares of PPG Industries by 0.4% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after buying an additional 12 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its holdings in shares of PPG Industries by 1.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock worth $223,000 after buying an additional 31 shares during the last quarter. Finally, First Interstate Bank lifted its holdings in shares of PPG Industries by 3.1% during the second 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 last quarter. Institutional investors own 74.51% of the company’s stock.

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

A number of research analysts recently commented on PPG shares. Jefferies Group LLC restated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and upped their target price for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group set a $113.00 target price on PPG Industries and gave the company a “buy” rating in a research note on Sunday, July 23rd. Finally, Robert W. Baird restated a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $119.36.

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Shares of PPG Industries, Inc. (NYSE:PPG) opened at 116.24 on Wednesday. The firm has a 50-day moving average price of $111.87 and a 200-day moving average price of $108.60. PPG Industries, Inc. has a 12 month low of $90.88 and a 12 month high of $119.85. The company has a market capitalization of $29.81 billion, a PE ratio of 30.58 and a beta of 1.55.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.56 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post $5.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.80 annualized dividend and a yield of 1.55%. PPG Industries’s dividend payout ratio is presently 26.12%.

About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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