Candriam Luxembourg S.C.A. boosted its position in PPG Industries, Inc. (NYSE:PPG) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,605 shares of the specialty chemicals company’s stock after acquiring an additional 1,821 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in PPG Industries were worth $5,287,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of PPG. First Trust Advisors LP increased its position in PPG Industries by 624.8% in the 4th quarter. First Trust Advisors LP now owns 556,444 shares of the specialty chemicals company’s stock valued at $74,280,000 after buying an additional 479,668 shares in the last quarter. BlackRock Inc. increased its position in PPG Industries by 1.6% in the 2nd quarter. BlackRock Inc. now owns 14,692,566 shares of the specialty chemicals company’s stock valued at $1,714,770,000 after buying an additional 232,493 shares in the last quarter. SG Americas Securities LLC increased its position in PPG Industries by 243.6% in the 3rd quarter. SG Americas Securities LLC now owns 239,397 shares of the specialty chemicals company’s stock valued at $28,371,000 after buying an additional 169,732 shares in the last quarter. Janney Montgomery Scott LLC increased its position in PPG Industries by 97.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 264,201 shares of the specialty chemicals company’s stock valued at $35,268,000 after buying an additional 130,497 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in PPG Industries by 19.7% in the 3rd quarter. California Public Employees Retirement System now owns 597,304 shares of the specialty chemicals company’s stock valued at $70,786,000 after buying an additional 98,419 shares in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on PPG. Goldman Sachs Group lowered PPG Industries from a “conviction-buy” rating to a “buy” rating in a research report on Monday, November 18th. Robert W. Baird lifted their price target on PPG Industries from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. UBS Group lifted their price target on PPG Industries from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank lifted their price target on PPG Industries from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $130.00 price target on shares of PPG Industries in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $131.28.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). PPG Industries had a net margin of 8.21% and a return on equity of 28.55%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the firm posted $1.15 EPS. PPG Industries’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 6.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Tuesday, January 21st will be paid a $0.51 dividend. The ex-dividend date is Thursday, February 20th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.70%. PPG Industries’s payout ratio is presently 32.80%.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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