Private Advisor Group LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,278 shares of the specialty chemicals company’s stock after acquiring an additional 2,626 shares during the period. Private Advisor Group LLC’s holdings in PPG Industries were worth $1,827,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Sigma Planning Corp lifted its stake in PPG Industries by 0.3% in the 2nd quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after acquiring an additional 12 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC lifted its stake in PPG Industries by 0.4% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 12 shares in the last quarter. First Interstate Bank lifted its stake in PPG Industries by 3.1% in the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 35 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in PPG Industries by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock worth $403,000 after acquiring an additional 54 shares in the last quarter. Finally, Bank of The Ozarks lifted its stake in PPG Industries by 2.3% in the 2nd quarter. Bank of The Ozarks now owns 2,420 shares of the specialty chemicals company’s stock worth $266,000 after acquiring an additional 55 shares in the last quarter. 75.09% of the stock is owned by hedge funds and other institutional investors.
Shares of PPG Industries, Inc. (PPG) traded down $0.56 during mid-day trading on Thursday, reaching $116.19. The company’s stock had a trading volume of 893,400 shares, compared to its average volume of 1,443,598. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65. The firm has a market cap of $29,710.06, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.32 and a beta of 1.59. PPG Industries, Inc. has a 12 month low of $93.80 and a 12 month high of $119.85.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio is 26.12%.
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $109.00 price objective on shares of PPG Industries in a research note on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $120.00 target price (up from $110.00) on shares of PPG Industries in a research report on Tuesday, November 28th. They noted that the move was a valuation call. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 27th. Citigroup upped their target price on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $125.00 target price on shares of PPG Industries in a research report on Friday, August 25th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. PPG Industries currently has an average rating of “Hold” and an average price target of $119.40.
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PPG Industries Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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