CENTRAL TRUST Co trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,309 shares of the specialty chemicals company’s stock after selling 100 shares during the period. CENTRAL TRUST Co’s holdings in PPG Industries were worth $1,362,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Captrust Financial Advisors lifted its position in PPG Industries by 64.0% during the third quarter. Captrust Financial Advisors now owns 18,986 shares of the specialty chemicals company’s stock valued at $2,102,000 after buying an additional 7,406 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in PPG Industries by 4.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,422 shares of the specialty chemicals company’s stock valued at $932,000 after buying an additional 352 shares in the last quarter. Kentucky Retirement Systems lifted its position in PPG Industries by 4.9% during the third quarter. Kentucky Retirement Systems now owns 18,395 shares of the specialty chemicals company’s stock valued at $2,036,000 after buying an additional 865 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in PPG Industries during the third quarter valued at approximately $552,000. Finally, Balyasny Asset Management LLC acquired a new position in PPG Industries during the third quarter valued at approximately $22,016,000. 80.04% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently issued reports on PPG. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $115.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, January 23rd. Royal Bank of Canada lowered shares of PPG Industries from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $128.00 to $129.00 in a research note on Tuesday, January 10th. Argus lifted their price objective on shares of PPG Industries from $144.00 to $149.00 in a research note on Monday, January 23rd. Mizuho reiterated a “buy” rating and set a $142.00 price objective on shares of PPG Industries in a research note on Tuesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $128.00 to $145.00 in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.84.
PPG Industries Stock Performance
PPG Industries stock opened at $125.43 on Thursday. The company has a market cap of $29.52 billion, a PE ratio of 28.97, a P/E/G ratio of 2.75 and a beta of 1.17. The company has a fifty day moving average price of $129.73 and a two-hundred day moving average price of $124.84. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.04. PPG Industries, Inc. has a 12 month low of $107.06 and a 12 month high of $138.10.
PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. PPG Industries had a net margin of 5.81% and a return on equity of 22.55%. The firm had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Research analysts expect that PPG Industries, Inc. will post 6.49 earnings per share for the current year.
PPG Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, February 16th. PPG Industries’s dividend payout ratio (DPR) is 57.27%.
About PPG Industries
PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.
- Get a free copy of the StockNews.com research report on PPG Industries (PPG)
- Meta Platforms: Efficiency Gains Momentum, Stock Accelerates
- Pfizer’s Latest Acquisition Strengthens the Case for PFE Stock
- SentinelOne: Reversal In-Play For Cybersecurity Stocks
- Is Sportradar Group A Growth Stock To Bet On In 2023?
- Strong Guidance says Boeing is Ready for Takeoff
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.