Thomas White International Ltd. raised its position in PPG Industries, Inc. (NYSE:PPG) by 57.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,780 shares of the specialty chemicals company’s stock after buying an additional 6,124 shares during the period. Thomas White International Ltd.’s holdings in PPG Industries were worth $1,763,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PPG. Elkfork Partners LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $2,594,000. Cypress Capital Management LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth about $521,000. Marshall Wace LLP raised its stake in shares of PPG Industries by 270.3% in the fourth quarter. Marshall Wace LLP now owns 91,991 shares of the specialty chemicals company’s stock worth $8,717,000 after buying an additional 67,149 shares during the last quarter. Keybank National Association OH raised its stake in shares of PPG Industries by 14.8% in the fourth quarter. Keybank National Association OH now owns 80,141 shares of the specialty chemicals company’s stock worth $7,594,000 after buying an additional 10,315 shares during the last quarter. Finally, RidgeWorth Capital Management LLC raised its stake in shares of PPG Industries by 16.1% in the fourth quarter. RidgeWorth Capital Management LLC now owns 1,406,342 shares of the specialty chemicals company’s stock worth $133,265,000 after buying an additional 194,994 shares during the last quarter. Institutional investors and hedge funds own 71.83% of the company’s stock.
PPG Industries, Inc. (PPG) opened at 111.235 on Tuesday. The company has a 50 day moving average of $108.46 and a 200-day moving average of $103.12. PPG Industries, Inc. has a one year low of $89.64 and a one year high of $113.49. The company has a market cap of $28.50 billion, a P/E ratio of 34.058 and a beta of 1.54.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. PPG Industries had a net margin of 5.79% and a return on equity of 30.40%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, equities analysts expect that PPG Industries, Inc. will post $6.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Wednesday, May 10th were paid a dividend of $0.40 per share. The ex-dividend date was Monday, May 8th. This represents a $1.60 annualized dividend and a yield of 1.44%. PPG Industries’s dividend payout ratio is presently 48.93%.
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A number of brokerages have issued reports on PPG. Barclays PLC increased their price target on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Friday, May 26th. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Wells Fargo & Co lowered PPG Industries from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 9th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up previously from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $114.46.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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