Vaughan David Investments Inc. IL increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 69.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,528 shares of the specialty chemicals company’s stock after purchasing an additional 138,282 shares during the period. Vaughan David Investments Inc. IL owned 0.13% of PPG Industries worth $17,446,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC bought a new stake in PPG Industries during the second quarter worth approximately $105,000. State of Alaska Department of Revenue bought a new stake in PPG Industries during the second quarter worth approximately $113,000. First Interstate Bank raised its holdings in 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 purchasing an additional 35 shares in the last quarter. Global X Management Co. LLC raised its holdings in PPG Industries by 9.2% during the second quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 108 shares in the last quarter. Finally, Grove Bank & Trust raised its holdings in PPG Industries by 28.6% during the second quarter. Grove Bank & Trust now owns 1,516 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 337 shares in the last quarter. 74.67% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on PPG. Citigroup Inc. boosted their target price on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Robert W. Baird upped their price target on PPG Industries from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Bank of America Corporation set a $120.00 price target on PPG Industries and gave the company a “hold” rating in a report on Friday, October 20th. Credit Suisse Group set a $119.00 price target on PPG Industries and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $119.36.
PPG Industries, Inc. (PPG) traded up $0.62 during midday trading on Friday, reaching $114.01. 1,396,200 shares of the company’s stock traded hands, compared to its average volume of 1,453,314. PPG Industries, Inc. has a 12-month low of $93.80 and a 12-month high of $119.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65. The stock has a market cap of $29,080.00, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.26 and a beta of 1.60.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the company posted $1.56 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. equities research analysts expect that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, November 9th. PPG Industries’s payout ratio is 35.86%.
PPG Industries Profile
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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