Jmac Enterprises LLC increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 33.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,600 shares of the specialty chemicals company’s stock after acquiring an additional 900 shares during the period. Jmac Enterprises LLC’s holdings in PPG Industries were worth $477,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kingsview Wealth Management LLC grew its holdings in PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after acquiring an additional 76 shares during the period. Insight Folios Inc grew its holdings in PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after acquiring an additional 81 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the last quarter. Klingman & Associates LLC grew its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock valued at $419,000 after purchasing an additional 83 shares during the last quarter. Finally, Fragasso Financial Advisors Inc grew its holdings in PPG Industries by 0.6% in the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Wall Street Analyst Weigh In
PPG has been the topic of several research reports. Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Finally, KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.93.
Insider Buying and Selling at PPG Industries
In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.
PPG Industries Price Performance
PPG stock opened at $126.35 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm has a market cap of $29.31 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.26. The stock has a 50-day simple moving average of $127.86 and a 200-day simple moving average of $128.10.
PPG Industries (NYSE:PPG – Get Free Report) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business posted $2.07 EPS. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.
PPG Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.15%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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