AXS Investments LLC lifted its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,938 shares of the specialty chemicals company’s stock after acquiring an additional 170 shares during the period. AXS Investments LLC’s holdings in PPG Industries were worth $1,326,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its position in PPG Industries by 163,082.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after buying an additional 4,155,341 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in PPG Industries by 602,706.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company’s stock worth $331,994,000 after buying an additional 2,639,853 shares during the period. Norges Bank bought a new position in PPG Industries in the 4th quarter worth approximately $318,155,000. First Trust Advisors LP increased its position in shares of PPG Industries by 280.6% during the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after purchasing an additional 1,279,104 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of PPG Industries by 6.6% during the first quarter. JPMorgan Chase & Co. now owns 19,028,515 shares of the specialty chemicals company’s stock valued at $2,541,830,000 after purchasing an additional 1,185,356 shares during the period. 79.18% of the stock is owned by institutional investors.
Analyst Ratings Changes
PPG has been the topic of a number of research reports. Citigroup lowered their price objective on PPG Industries from $154.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, October 20th. Credit Suisse Group boosted their price target on PPG Industries from $133.00 to $140.00 and gave the company an “underperform” rating in a research note on Friday, July 21st. BMO Capital Markets boosted their price target on PPG Industries from $158.00 to $165.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Bank of America boosted their price target on PPG Industries from $163.00 to $170.00 in a research note on Monday, July 24th. Finally, StockNews.com initiated coverage on PPG Industries in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $155.44.
PPG Industries Trading Up 0.5 %
Shares of PPG traded up $0.71 during trading hours on Friday, hitting $135.87. 961,746 shares of the stock traded hands, compared to its average volume of 1,462,723. The company has a current ratio of 1.48, a quick ratio of 1.05 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 1-year low of $120.32 and a 1-year high of $152.89. The firm has a market capitalization of $32.04 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.14 and a beta of 1.22. The business has a fifty day moving average of $129.18 and a 200-day moving average of $137.17.
PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.13. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.64 billion. PPG Industries had a return on equity of 23.51% and a net margin of 7.84%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 earnings per share. Analysts expect that PPG Industries, Inc. will post 7.64 EPS for the current year.
PPG Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.91%. PPG Industries’s dividend payout ratio is presently 43.55%.
About PPG Industries
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.
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