Boston Advisors LLC held its position in shares of PPG Industries Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,200 shares of the company’s stock at the end of the second quarter. Boston Advisors LLC’s holdings in PPG Industries were worth $333,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the first quarter worth $144,000. Invictus RG purchased a new position in shares of PPG Industries during the first quarter worth $147,000. Nikko Asset Management Americas Inc. purchased a new position in shares of PPG Industries during the first quarter worth $157,000. Massmutual Trust Co. FSB ADV boosted its position in shares of PPG Industries by 12.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the company’s stock worth $158,000 after buying an additional 162 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock worth $202,000 after buying an additional 59 shares in the last quarter. 73.04% of the stock is currently owned by institutional investors.
Shares of PPG Industries Inc. (NYSE:PPG) traded down 8.28% during midday trading on Friday, reaching $93.73. The company had a trading volume of 7,136,802 shares. The firm’s 50 day moving average price is $103.53 and its 200-day moving average price is $106.99. The stock has a market capitalization of $24.96 billion, a price-to-earnings ratio of 17.32 and a beta of 1.47. PPG Industries Inc. has a 1-year low of $88.37 and a 1-year high of $117.00.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, meeting the consensus estimate of $1.85. The business earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. Equities research analysts expect that PPG Industries Inc. will post $6.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, August 8th. PPG Industries’s dividend payout ratio (DPR) is 29.57%.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, August 29th. Credit Suisse Group AG reissued a “buy” rating on shares of PPG Industries in a report on Wednesday, June 15th. Jefferies Group reaffirmed a “buy” rating on shares of PPG Industries in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $120.00 price objective on shares of PPG Industries in a research report on Friday, June 17th. Finally, Longbow Research upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, June 23rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $121.17.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of PPG Industries stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the completion of the transaction, the insider now owns 69,044 shares in the company, valued at approximately $7,362,852.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of PPG Industries stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the transaction, the vice president now owns 11,806 shares of the company’s stock, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
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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