UBS Group AG Sells 56,639 Shares of PPG Industries, Inc. (NYSE:PPG)

UBS Group AG lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) by 16.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 296,149 shares of the specialty chemicals company’s stock after selling 56,639 shares during the quarter. UBS Group AG’s holdings in PPG Industries were worth $33,862,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Farm Mutual Automobile Insurance Co. raised its position in shares of PPG Industries by 20.3% in the second quarter. State Farm Mutual Automobile Insurance Co. now owns 428,960 shares of the specialty chemicals company’s stock valued at $49,047,000 after purchasing an additional 72,408 shares during the period. Bank of Montreal Can raised its position in shares of PPG Industries by 14.3% in the second quarter. Bank of Montreal Can now owns 250,556 shares of the specialty chemicals company’s stock valued at $30,807,000 after purchasing an additional 31,301 shares during the period. Westpac Banking Corp raised its position in shares of PPG Industries by 4.6% in the second quarter. Westpac Banking Corp now owns 120,654 shares of the specialty chemicals company’s stock valued at $13,796,000 after purchasing an additional 5,288 shares during the period. Vaughan David Investments LLC IL raised its position in shares of PPG Industries by 5.8% in the second quarter. Vaughan David Investments LLC IL now owns 229,289 shares of the specialty chemicals company’s stock valued at $26,217,000 after purchasing an additional 12,552 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of PPG Industries by 12.8% in the second quarter. JPMorgan Chase & Co. now owns 17,310,493 shares of the specialty chemicals company’s stock valued at $1,979,281,000 after purchasing an additional 1,963,056 shares during the period. Institutional investors own 80.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PPG. Northcoast Research began coverage on shares of PPG Industries in a research report on Thursday, October 13th. They issued a “neutral” rating on the stock. Mizuho lowered their price objective on shares of PPG Industries from $148.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, October 21st. Morgan Stanley lowered their price objective on shares of PPG Industries from $150.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Monday, October 24th. Robert W. Baird lowered their price objective on shares of PPG Industries from $180.00 to $125.00 in a research note on Tuesday, October 11th. Finally, Royal Bank of Canada lowered their price objective on shares of PPG Industries from $126.00 to $120.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.83.

PPG Industries Stock Up 0.8 %

Shares of NYSE PPG opened at $133.06 on Thursday. The stock has a market cap of $31.27 billion, a PE ratio of 29.44, a PEG ratio of 5.60 and a beta of 1.14. The business has a fifty day moving average of $116.53 and a two-hundred day moving average of $121.11. PPG Industries, Inc. has a 52-week low of $107.06 and a 52-week high of $177.32. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.03 and a current ratio of 1.52.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The specialty chemicals company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.01. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. PPG Industries had a return on equity of 23.00% and a net margin of 6.08%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. As a group, equities research analysts expect that PPG Industries, Inc. will post 5.98 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Thursday, November 10th will be issued a $0.62 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.86%. PPG Industries’s dividend payout ratio is 54.87%.

PPG Industries Profile

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PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; 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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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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