AMP Capital Investors Ltd lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,197 shares of the specialty chemicals company’s stock after selling 1,704 shares during the period. AMP Capital Investors Ltd’s holdings in PPG Industries were worth $7,651,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of PPG. Fort L.P. bought a new stake in PPG Industries during the second quarter worth about $120,000. Investment Counselors of Maryland LLC bought a new stake in PPG Industries during the third quarter worth about $158,000. Qube Research & Technologies Ltd bought a new stake in PPG Industries during the second quarter worth about $167,000. CWM LLC grew its stake in PPG Industries by 47.6% during the third quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock worth $182,000 after buying an additional 539 shares during the last quarter. Finally, Bennicas & Associates Inc. bought a new stake in PPG Industries during the third quarter worth about $205,000. 78.51% of the stock is owned by hedge funds and other institutional investors.
PPG opened at $103.23 on Friday. PPG Industries, Inc. has a one year low of $94.37 and a one year high of $122.07. The company has a current ratio of 1.71, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The company has a market cap of $25.60 billion, a PE ratio of 17.59, a P/E/G ratio of 2.21 and a beta of 1.38.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. PPG Industries’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts anticipate that PPG Industries, Inc. will post 5.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.86%. PPG Industries’s dividend payout ratio (DPR) is currently 32.71%.
Several brokerages have weighed in on PPG. Vertical Research cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Northcoast Research set a $114.00 price objective on shares of PPG Industries and gave the stock a “buy” rating in a research note on Tuesday, October 9th. Citigroup decreased their price objective on shares of PPG Industries from $113.00 to $103.00 and set a “neutral” rating on the stock in a research note on Thursday, October 11th. KeyCorp decreased their price objective on shares of PPG Industries from $128.00 to $119.00 and set an “overweight” rating on the stock in a research note on Friday, October 12th. Finally, Credit Suisse Group decreased their price objective on shares of PPG Industries from $119.00 to $115.00 and set a “hold” rating on the stock in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $119.00.
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PPG Industries 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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