British Airways Pensions Investment Management Ltd reduced its position in PPG Industries Inc. (NYSE:PPG) by 29.3% during the second quarter, Holdings Channel reports. The firm owned 192,836 shares of the company’s stock after selling 80,026 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in PPG Industries were worth $20,163,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the first quarter worth about $144,000. Invictus RG purchased a new position in shares of PPG Industries during the first quarter worth about $147,000. Nikko Asset Management Americas Inc. purchased a new position in shares of PPG Industries during the first quarter worth about $157,000. Massmutual Trust Co. FSB ADV raised 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 during the period. Finally, Dubuque Bank & Trust Co. raised its position in shares of PPG Industries by 34.5% in the first quarter. Dubuque Bank & Trust Co. now owns 1,713 shares of the company’s stock worth $191,000 after buying an additional 439 shares during the period. Institutional investors own 73.04% of the company’s stock.

PPG Industries Inc. (NYSE:PPG) traded up 0.66% during midday trading on Thursday, reaching $103.14. The company had a trading volume of 1,149,767 shares. The firm’s 50 day moving average is $104.28 and its 200 day moving average is $107.26. PPG Industries Inc. has a 1-year low of $82.93 and a 1-year high of $117.00. The stock has a market capitalization of $27.46 billion, a PE ratio of 19.06 and a beta of 1.44.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 21st. The company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The business earned $4.10 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same period in the prior year, the company earned $1.67 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that PPG Industries Inc. will post $6.19 EPS for the current fiscal year.

The firm 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. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.55%. PPG Industries’s payout ratio is 29.57%.

Several equities research analysts have weighed in on PPG shares. Morgan Stanley reaffirmed a “hold” rating on shares of PPG Industries in a research report on Thursday, June 16th. Zacks Investment Research downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Seaport Global Securities raised PPG Industries from an “accumulate” rating to a “buy” rating and increased their price target for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of PPG Industries in a research report on Wednesday, June 15th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research report on Friday, June 17th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. PPG Industries presently has a consensus rating of “Buy” and an average target price of $121.17.

In other news, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.08, for a total value of $967,944.00. Following the completion of the sale, the vice president now directly owns 11,806 shares of the company’s stock, valued at $1,228,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the completion of the sale, the insider now directly owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The disclosure for this sale can be found here. 0.68% of the stock is currently 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.

5 Day Chart for NYSE:PPG

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