OPSEU Pension Plan Trust Fund grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,289 shares of the specialty chemicals company’s stock after purchasing an additional 298 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in PPG Industries were worth $1,634,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Glassman Wealth Services increased its position in shares of PPG Industries by 163.4% in the 3rd quarter. Glassman Wealth Services now owns 266 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 165 shares during the last quarter. CX Institutional grew its position in shares of PPG Industries by 144.0% in the 2nd quarter. CX Institutional now owns 327 shares of the specialty chemicals company’s stock valued at $35,000 after buying an additional 193 shares during the last quarter. AlphaMark Advisors LLC grew its position in shares of PPG Industries by 87.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 375 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 175 shares during the last quarter. NEXT Financial Group Inc purchased a new position in shares of PPG Industries in the 3rd quarter valued at $60,000. Finally, Campbell Wealth Management purchased a new position in shares of PPG Industries in the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.
NYSE:PPG traded down $1.93 during mid-day trading on Tuesday, hitting $142.34. 14,746 shares of the company’s stock traded hands, compared to its average volume of 1,749,737. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.03 and a current ratio of 1.35. The firm’s 50 day simple moving average is $132.92 and its 200 day simple moving average is $115.12. PPG Industries, Inc. has a 1 year low of $69.77 and a 1 year high of $149.34. The company has a market cap of $34.08 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 4.01 and a beta of 1.22.
PPG Industries (NYSE:PPG) last posted its earnings results on Monday, October 19th. The specialty chemicals company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.60 billion. PPG Industries had a net margin of 7.85% and a return on equity of 25.46%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.67 EPS. On average, research analysts expect that PPG Industries, Inc. will post 5.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 34.73%.
A number of research analysts recently commented on the stock. Credit Suisse Group increased their target price on shares of PPG Industries from $130.00 to $136.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PPG Industries from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. TheStreet raised shares of PPG Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, August 26th. Barclays raised their price objective on shares of PPG Industries from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Finally, Morgan Stanley raised their price objective on shares of PPG Industries from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 20th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $132.44.
In other news, CEO Michael H. Mcgarry sold 81,022 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $133.65, for a total transaction of $10,828,590.30. Following the sale, the chief executive officer now owns 173,940 shares in the company, valued at $23,247,081. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy M. Knavish sold 15,300 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $120.69, for a total value of $1,846,557.00. Insiders have sold 100,172 shares of company stock worth $13,193,588 in the last 90 days. Insiders own 0.41% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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