Massmutual Trust Co. FSB ADV boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,489 shares of the specialty chemicals company’s stock after buying an additional 133 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in PPG Industries were worth $152,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Wetherby Asset Management Inc. lifted its stake in shares of PPG Industries by 2.1% in the 4th quarter. Wetherby Asset Management Inc. now owns 4,655 shares of the specialty chemicals company’s stock valued at $476,000 after purchasing an additional 96 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of PPG Industries by 1.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,422 shares of the specialty chemicals company’s stock valued at $656,000 after buying an additional 103 shares during the period. UMB Bank N A MO raised its holdings in shares of PPG Industries by 2.6% in the 4th quarter. UMB Bank N A MO now owns 4,172 shares of the specialty chemicals company’s stock valued at $427,000 after buying an additional 107 shares during the period. Lourd Capital LLC raised its holdings in shares of PPG Industries by 3.2% in the 4th quarter. Lourd Capital LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $364,000 after buying an additional 109 shares during the period. Finally, Trust Co. of Vermont raised its holdings in shares of PPG Industries by 2.1% in the 4th quarter. Trust Co. of Vermont now owns 5,268 shares of the specialty chemicals company’s stock valued at $538,000 after buying an additional 109 shares during the period. 79.75% of the stock is currently owned by institutional investors.
PPG has been the topic of several research analyst reports. Argus upgraded PPG Industries to a “buy” rating and set a $136.00 price objective on the stock in a report on Thursday, December 20th. Credit Suisse Group restated a “hold” rating and set a $115.00 price target on shares of PPG Industries in a report on Thursday, January 17th. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a report on Monday, December 10th. BMO Capital Markets set a $112.00 price target on PPG Industries and gave the stock a “hold” rating in a report on Wednesday, January 23rd. Finally, SunTrust Banks upped their price target on PPG Industries to $110.00 and gave the stock a “hold” rating in a report on Tuesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $116.88.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.65 billion. PPG Industries had a return on equity of 28.47% and a net margin of 8.84%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.19 EPS. On average, research analysts expect that PPG Industries, Inc. will post 6.22 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 22nd were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.68%. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.
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.
Further Reading: Cost of Debt
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