PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,948 shares of the specialty chemicals company’s stock after buying an additional 614 shares during the quarter. Kestra Advisory Services LLC’s holdings in PPG Industries were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. JPMorgan Chase & Co. lifted its stake in PPG Industries by 12.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,310,493 shares of the specialty chemicals company’s stock valued at $1,979,281,000 after acquiring an additional 1,963,056 shares during the period. First Trust Advisors LP lifted its stake in PPG Industries by 280.6% during the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after acquiring an additional 1,279,104 shares during the period. Millennium Management LLC lifted its stake in PPG Industries by 235.7% during the 2nd quarter. Millennium Management LLC now owns 617,111 shares of the specialty chemicals company’s stock valued at $70,560,000 after acquiring an additional 433,297 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $36,632,000. Finally, State Street Corp lifted its stake in PPG Industries by 2.5% during the 2nd quarter. State Street Corp now owns 11,682,267 shares of the specialty chemicals company’s stock valued at $1,335,750,000 after acquiring an additional 285,651 shares during the period. 80.04% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG Industries stock opened at $130.30 on Tuesday. PPG Industries, Inc. has a 52-week low of $107.06 and a 52-week high of $159.16. The firm has a market capitalization of $30.62 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.69 and a beta of 1.18. The company has a fifty day simple moving average of $129.58 and a 200-day simple moving average of $123.94. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 1.05.

PPG Industries (NYSE:PPGGet Rating) last announced its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 6.8 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $2.48 annualized dividend and a dividend yield of 1.90%. PPG Industries’s payout ratio is 57.27%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PPG. Mizuho decreased their target price on shares of PPG Industries from $146.00 to $142.00 and set a “buy” rating for the company in a research note on Thursday, January 12th. BMO Capital Markets boosted their target price on shares of PPG Industries from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 21st. Northcoast Research began coverage on shares of PPG Industries in a research note on Thursday, October 13th. They issued a “neutral” rating for the company. Credit Suisse Group boosted their target price on shares of PPG Industries from $104.00 to $118.00 and gave the company an “underperform” rating in a research note on Friday. Finally, Bank of America decreased their target price on shares of PPG Industries from $164.00 to $143.00 in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.55.

About PPG Industries

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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.

See Also

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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