Bailard Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,772 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Bailard Inc.’s holdings in PPG Industries were worth $1,101,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of PPG. Wetherby Asset Management Inc. boosted its stake in PPG Industries by 2.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,655 shares of the specialty chemicals company’s stock valued at $476,000 after acquiring an additional 96 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in PPG Industries by 1.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,422 shares of the specialty chemicals company’s stock valued at $656,000 after acquiring an additional 103 shares during the period. UMB Bank N A MO boosted its stake in PPG Industries by 2.6% in the fourth quarter. UMB Bank N A MO now owns 4,172 shares of the specialty chemicals company’s stock valued at $427,000 after acquiring an additional 107 shares during the period. Lourd Capital LLC boosted its stake in PPG Industries by 3.2% in the fourth quarter. Lourd Capital LLC now owns 3,556 shares of the specialty chemicals company’s stock valued at $364,000 after acquiring an additional 109 shares during the period. Finally, Trust Co. of Vermont boosted its stake in PPG Industries by 2.1% in the fourth quarter. Trust Co. of Vermont now owns 5,268 shares of the specialty chemicals company’s stock valued at $538,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.
A number of equities analysts have commented on PPG shares. Deutsche Bank lifted their target price on PPG Industries from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, November 1st. Goldman Sachs Group upgraded PPG Industries from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Citigroup upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 target price for the company in a research note on Thursday, November 29th. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $106.00 in a research note on Friday, January 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and an average price target of $117.25.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.05. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.65 billion. PPG Industries had a return on equity of 27.86% and a net margin of 8.84%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, analysts anticipate that PPG Industries, Inc. will post 6.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 22nd will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.83%. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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