Welch Group LLC held its stake in shares of PPG Industries Inc. (NYSE:PPG) during the second quarter, Holdings Channel reports. The fund owned 3,312 shares of the company’s stock at the end of the second quarter. Welch Group LLC’s holdings in PPG Industries were worth $345,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased its stake in shares of PPG Industries by 14.6% in the first quarter. M&T Bank Corp now owns 113,231 shares of the company’s stock valued at $12,624,000 after buying an additional 14,419 shares in the last quarter. Menta Capital LLC increased its stake in shares of PPG Industries by 63.5% in the first quarter. Menta Capital LLC now owns 9,420 shares of the company’s stock valued at $1,050,000 after buying an additional 3,660 shares in the last quarter. Advisor Partners LLC increased its stake in shares of PPG Industries by 66.1% in the first quarter. Advisor Partners LLC now owns 4,753 shares of the company’s stock valued at $530,000 after buying an additional 1,891 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in shares of PPG Industries by 39.8% in the first quarter. Palisade Capital Management LLC NJ now owns 25,392 shares of the company’s stock valued at $2,831,000 after buying an additional 7,234 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of PPG Industries during the first quarter valued at $2,487,000. Hedge funds and other institutional investors own 73.04% of the company’s stock.
PPG Industries Inc. (NYSE:PPG) traded up 0.08% during midday trading on Monday, hitting $103.44. 1,345,840 shares of the stock were exchanged. The company has a 50 day moving average price of $104.00 and a 200 day moving average price of $107.24. PPG Industries Inc. has a one year low of $88.37 and a one year high of $117.00. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 19.11 and a beta of 1.47.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 21st. The company reported $1.85 EPS for the quarter, hitting analysts’ consensus estimates of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company’s revenue was down .9% on a year-over-year basis. Equities analysts anticipate that PPG Industries Inc. will post $6.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio is currently 29.57%.
Several analysts recently weighed in on the stock. Morgan Stanley reiterated a “hold” rating on shares of PPG Industries in a research report on Thursday, June 16th. Longbow Research raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research note on Thursday, June 23rd. JPMorgan Chase & Co. reissued a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Friday, June 17th. Jefferies Group reissued a “buy” rating and set a $129.00 target price (up previously from $127.00) on shares of PPG Industries in a research note on Monday, July 25th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of PPG Industries in a research note on Wednesday, June 15th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. PPG Industries currently has a consensus rating of “Buy” and an average target price of $121.17.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total value of $4,366,908.00. Following the transaction, the insider now owns 69,044 shares of the company’s stock, valued at approximately $7,362,852.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the transaction, the vice president now directly owns 11,806 shares in the company, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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