Creative Planning boosted its position in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,855 shares of the specialty chemicals company’s stock after acquiring an additional 1,216 shares during the period. Creative Planning’s holdings in PPG Industries were worth $4,522,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC acquired a new stake in PPG Industries during the second quarter valued at approximately $29,000. Tradition Wealth Management LLC acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $33,000. New England Asset Management Inc. acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $33,000. Parkside Financial Bank & Trust boosted its holdings in shares of PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Finally, LS Investment Advisors LLC acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $38,000. 80.04% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on PPG. Vertical Research downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday. Argus boosted their target price on PPG Industries from $144.00 to $149.00 in a report on Monday. StockNews.com upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird dropped their price objective on shares of PPG Industries from $180.00 to $125.00 in a research report on Tuesday, October 11th. Finally, Northcoast Research began coverage on shares of PPG Industries in a research report on Thursday, October 13th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $135.55.
PPG Industries Price Performance
PPG Industries (NYSE:PPG – Get Rating) last announced its earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. On average, research analysts expect that PPG Industries, Inc. will post 6.73 EPS for the current year.
PPG Industries Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 17th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, February 16th. PPG Industries’s payout ratio is presently 57.27%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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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