PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Ledyard National Bank

Ledyard National Bank increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 9.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,331 shares of the specialty chemicals company’s stock after acquiring an additional 206 shares during the period. Ledyard National Bank’s holdings in PPG Industries were worth $346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Harbour Investments Inc. grew its stake in shares of PPG Industries by 84.9% in the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 101 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of PPG Industries in the fourth quarter valued at $30,000. Fiduciary Alliance LLC bought a new stake in shares of PPG Industries during the 2nd quarter worth $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of PPG Industries by 160.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 260 shares of the specialty chemicals company’s stock worth $35,000 after acquiring an additional 160 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of PPG Industries by 45.8% during the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $0.57 during midday trading on Thursday, hitting $134.19. The company’s stock had a trading volume of 99,743 shares, compared to its average volume of 1,481,716. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.48. The stock’s 50 day simple moving average is $129.19 and its 200 day simple moving average is $137.22. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.09 and a beta of 1.22. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 19th. The specialty chemicals company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.94 by $0.13. PPG Industries had a net margin of 7.84% and a return on equity of 23.51%. The firm had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the company earned $1.66 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.64 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 43.55%.

Analyst Upgrades and Downgrades

PPG has been the topic of several analyst reports. KeyCorp dropped their target price on shares of PPG Industries from $172.00 to $166.00 and set an “overweight” rating on the stock in a research report on Friday, October 20th. Bank of America boosted their price objective on shares of PPG Industries from $163.00 to $170.00 in a research report on Monday, July 24th. Credit Suisse Group lifted their target price on shares of PPG Industries from $133.00 to $140.00 and gave the company an “underperform” rating in a research note on Friday, July 21st. Barclays raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a research note on Wednesday, October 11th. Finally, Mizuho lifted their price objective on PPG Industries from $152.00 to $166.00 in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $155.44.

PPG Industries 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.