PPG Industries Inc. (PPG) Position Lowered by Trillium Asset Management LLC
Trillium Asset Management LLC reduced its stake in shares of PPG Industries Inc. (NYSE:PPG) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,016 shares of the company’s stock after selling 119 shares during the period. Trillium Asset Management LLC’s holdings in PPG Industries were worth $522,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of PPG. Royal Bank of Canada increased its stake in shares of PPG Industries by 39.6% in the first quarter. Royal Bank of Canada now owns 669,805 shares of the company’s stock valued at $74,678,000 after buying an additional 189,934 shares in the last quarter. Legal & General Group Plc increased its stake in PPG Industries by 2.7% in the first quarter. Legal & General Group Plc now owns 1,128,300 shares of the company’s stock worth $125,793,000 after buying an additional 30,011 shares during the period. Capital Fund Management S.A. purchased a new stake in PPG Industries during the second quarter worth $24,833,000. Wellington Management Group LLP increased its stake in PPG Industries by 167.3% in the first quarter. Wellington Management Group LLP now owns 1,476,493 shares of the company’s stock worth $164,615,000 after buying an additional 924,195 shares during the period. Finally, Capstone Asset Management Co. increased its stake in PPG Industries by 1.5% in the second quarter. Capstone Asset Management Co. now owns 29,148 shares of the company’s stock worth $3,036,000 after buying an additional 426 shares during the period. 73.04% of the stock is currently owned by institutional investors.
PPG Industries Inc. (NYSE:PPG) traded down 8.28% on Friday, hitting $93.73. 7,136,802 shares of the stock were exchanged. The company has a market capitalization of $24.96 billion, a PE ratio of 17.32 and a beta of 1.47. PPG Industries Inc. has a 1-year low of $88.37 and a 1-year high of $117.00. The company has a 50-day moving average price of $103.53 and a 200 day moving average price of $106.99.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The business’s revenue was down .9% compared to the same quarter last year. Analysts anticipate that PPG Industries Inc. will post $6.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.40 per share. The ex-dividend date was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. PPG Industries’s payout ratio is presently 29.57%.
PPG has been the topic of a number of recent research reports. Credit Suisse Group AG reissued a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research report on Tuesday, September 13th. JPMorgan Chase & Co. reissued a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Friday, June 17th. Jefferies Group reissued a “buy” rating on shares of PPG Industries in a research report on Wednesday, July 6th. Longbow Research raised PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, June 23rd. Finally, Seaport Global Securities raised PPG Industries from an “accumulate” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $121.17.
In other PPG Industries news, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $104.08, for a total transaction of $967,944.00. Following the transaction, the vice president now owns 11,806 shares in the company, valued at approximately $1,228,768.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the transaction, the insider now owns 69,044 shares in the company, valued at approximately $7,362,852.16. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
About PPG Industries
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.
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