Ferguson Wellman Capital Management Inc. Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

Ferguson Wellman Capital Management Inc. increased its stake in PPG Industries, Inc. (NYSE:PPG) by 376.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 262,599 shares of the specialty chemicals company’s stock after purchasing an additional 207,496 shares during the quarter. Ferguson Wellman Capital Management Inc. owned about 0.11% of PPG Industries worth $38,943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Czech National Bank lifted its stake in PPG Industries by 0.7% in the 2nd quarter. Czech National Bank now owns 27,872 shares of the specialty chemicals company’s stock worth $4,133,000 after purchasing an additional 185 shares in the last quarter. Stewardship Advisors LLC purchased a new stake in shares of PPG Industries in the second quarter worth $299,000. AE Wealth Management LLC boosted its stake in PPG Industries by 222.6% during the second quarter. AE Wealth Management LLC now owns 36,015 shares of the specialty chemicals company’s stock valued at $5,341,000 after buying an additional 24,852 shares during the period. SG Americas Securities LLC grew its position in PPG Industries by 2,555.1% during the second quarter. SG Americas Securities LLC now owns 50,023 shares of the specialty chemicals company’s stock worth $7,418,000 after buying an additional 48,139 shares in the last quarter. Finally, First Hawaiian Bank increased its stake in PPG Industries by 12.0% in the 2nd quarter. First Hawaiian Bank now owns 5,243 shares of the specialty chemicals company’s stock worth $778,000 after acquiring an additional 560 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PPG shares. Citigroup boosted their price objective on PPG Industries from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group raised their price objective on shares of PPG Industries from $133.00 to $140.00 and gave the company an “underperform” rating in a research report on Friday, July 21st. KeyCorp upped their target price on shares of PPG Industries from $171.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Morgan Stanley raised their price target on PPG Industries from $143.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. Finally, StockNews.com assumed coverage on PPG Industries in a research report on Thursday, August 17th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PPG Industries has a consensus rating of “Hold” and a consensus price target of $156.47.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 3,700 shares of PPG Industries stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $143.33, for a total transaction of $530,321.00. Following the completion of the transaction, the chief financial officer now directly owns 22,665 shares of the company’s stock, valued at approximately $3,248,574.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Vincent J. Morales sold 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $143.33, for a total transaction of $530,321.00. Following the completion of the transaction, the chief financial officer now owns 22,665 shares of the company’s stock, valued at approximately $3,248,574.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael H. Mcgarry sold 58,378 shares of PPG Industries stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $145.46, for a total value of $8,491,663.88. Following the transaction, the chairman now owns 195,706 shares of the company’s stock, valued at approximately $28,467,394.76. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

PPG Industries Trading Down 0.4 %

Shares of NYSE PPG traded down $0.59 during trading hours on Friday, hitting $133.80. The company’s stock had a trading volume of 2,213,862 shares, compared to its average volume of 1,211,501. The business has a 50-day simple moving average of $141.90 and a 200-day simple moving average of $138.81. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.03 and a current ratio of 1.49. PPG Industries, Inc. has a 12 month low of $107.40 and a 12 month high of $152.89.

PPG Industries (NYSE:PPG) last posted its earnings results on Friday, July 21st. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.14 by $0.11. PPG Industries had a net margin of 7.38% and a return on equity of 23.59%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period last year, the company posted $1.81 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, analysts anticipate that PPG Industries, Inc. will post 7.51 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.62. PPG Industries’s payout ratio is 46.68%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.