Penserra Capital Management LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 393.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,550 shares of the specialty chemicals company’s stock after acquiring an additional 13,995 shares during the quarter. Penserra Capital Management LLC’s holdings in PPG Industries were worth $1,914,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $105,000. Fort L.P. bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $120,000. Investment Counselors of Maryland LLC bought a new stake in shares of PPG Industries during the 3rd quarter valued at about $158,000. Qube Research & Technologies Ltd bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $167,000. Finally, CWM LLC boosted its position in shares of PPG Industries by 47.6% during the 3rd quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.
Shares of NYSE PPG opened at $107.71 on Friday. The stock has a market cap of $26.27 billion, a P/E ratio of 18.47, a PEG ratio of 2.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $122.07.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.45. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 5.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 12th will be paid a $0.48 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 1.78%. PPG Industries’s dividend payout ratio (DPR) is currently 32.71%.
PPG has been the subject of a number of research analyst reports. ValuEngine upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Credit Suisse Group decreased their price objective on PPG Industries from $122.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, July 20th. SunTrust Banks reissued a “hold” rating and set a $110.00 price objective on shares of PPG Industries in a report on Friday, July 20th. KeyCorp decreased their price objective on PPG Industries from $130.00 to $128.00 and set a “$104.41” rating on the stock in a report on Monday, July 23rd. Finally, Goldman Sachs Group raised PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.81.
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PPG Industries Company Profile
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.
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