Signaturefd LLC decreased its position in PPG Industries, Inc. (NYSE:PPG) by 9.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,318 shares of the specialty chemicals company’s stock after selling 236 shares during the quarter. Signaturefd LLC’s holdings in PPG Industries were worth $271,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its stake in shares of PPG Industries by 13.3% in the second quarter. Cornerstone Advisors Inc. now owns 749 shares of the specialty chemicals company’s stock worth $87,000 after buying an additional 88 shares during the period. Savant Capital LLC raised its stake in shares of PPG Industries by 2.0% in the first quarter. Savant Capital LLC now owns 4,493 shares of the specialty chemicals company’s stock worth $507,000 after buying an additional 90 shares during the period. Ballentine Partners LLC raised its stake in shares of PPG Industries by 0.8% in the first quarter. Ballentine Partners LLC now owns 13,266 shares of the specialty chemicals company’s stock worth $1,497,000 after buying an additional 106 shares during the period. Berman Capital Advisors LLC raised its stake in shares of PPG Industries by 49.5% in the first quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 107 shares during the period. Finally, BerganKDV Wealth Management LLC raised its stake in shares of PPG Industries by 1.2% in the first quarter. BerganKDV Wealth Management LLC now owns 9,219 shares of the specialty chemicals company’s stock worth $1,041,000 after buying an additional 107 shares during the period. 78.64% of the stock is currently owned by institutional investors.
PPG has been the subject of several research analyst reports. Barclays increased their target price on PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating and set a $125.00 target price for the company in a research report on Thursday, July 4th. Societe Generale initiated coverage on PPG Industries in a research report on Tuesday, July 9th. They set a “buy” rating and a $138.00 target price for the company. Credit Suisse Group set a $115.00 target price on PPG Industries and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, SunTrust Banks reiterated a “hold” rating and set a $123.00 target price on shares of PPG Industries in a research report on Friday, July 19th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. PPG Industries has an average rating of “Hold” and an average target price of $123.71.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.02. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.10 billion. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. Equities analysts forecast that PPG Industries, Inc. will post 6.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio (DPR) is currently 34.46%.
In other news, Director Victoria F. Haynes sold 674 shares of PPG Industries stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $107.16, for a total value of $72,225.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of PPG Industries stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $117.12, for a total value of $1,628,436.48. Following the completion of the transaction, the vice president now owns 29,617 shares of the company’s stock, valued at approximately $3,468,743.04. The disclosure for this sale can be found here. Insiders have sold a total of 17,078 shares of company stock valued at $1,967,862 in the last 90 days. 0.37% of the stock is currently owned by company insiders.
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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