PPG Industries Inc. (PPG) Stake Held by Tarbox Group Inc.
Tarbox Group Inc. held its stake in shares of PPG Industries Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,802 shares of the company’s stock at the end of the second quarter. PPG Industries makes up approximately 2.2% of Tarbox Group Inc.’s portfolio, making the stock its 11th largest position. Tarbox Group Inc.’s holdings in PPG Industries were worth $3,000,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of PPG. NN Investment Partners Holdings N.V. bought a new stake in shares of PPG Industries during the first quarter valued at $2,487,000. Palisade Capital Management LLC NJ boosted its stake in shares of PPG Industries by 39.8% in the first quarter. Palisade Capital Management LLC NJ now owns 25,392 shares of the company’s stock valued at $2,831,000 after buying an additional 7,234 shares during the last quarter. Menta Capital LLC boosted its stake in shares of PPG Industries by 63.5% in the first quarter. Menta Capital LLC now owns 9,420 shares of the company’s stock valued at $1,050,000 after buying an additional 3,660 shares during the last quarter. Aviva PLC boosted its stake in shares of PPG Industries by 0.5% in the first quarter. Aviva PLC now owns 149,340 shares of the company’s stock valued at $16,650,000 after buying an additional 800 shares during the last quarter. Finally, AMF Pensionsforsakring AB boosted its stake in shares of PPG Industries by 70.0% in the first quarter. AMF Pensionsforsakring AB now owns 124,336 shares of the company’s stock valued at $13,862,000 after buying an additional 51,200 shares during the last quarter. 73.04% of the stock is currently owned by institutional investors.
PPG Industries Inc. (NYSE:PPG) traded up 0.79% during mid-day trading on Friday, reaching $92.85. The company’s stock had a trading volume of 1,885,048 shares. The firm has a market capitalization of $24.72 billion, a price-to-earnings ratio of 17.16 and a beta of 1.47. The company’s 50-day moving average price is $102.02 and its 200 day moving average price is $106.53. PPG Industries Inc. has a 52 week low of $88.37 and a 52 week high of $117.00.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 21st. The company reported $1.85 EPS for the quarter, meeting analysts’ consensus estimates of $1.85. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.17 billion. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. PPG Industries’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. On average, equities analysts forecast that PPG Industries Inc. will post $6.17 earnings per share for the current fiscal year.
Several equities research analysts have weighed in on PPG shares. JPMorgan Chase & Co. reissued a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a research note on Friday, June 17th. Morgan Stanley reissued a “hold” rating on shares of PPG Industries in a research note on Thursday, June 16th. Longbow Research raised PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Thursday, June 23rd. Jefferies Group reaffirmed a “buy” rating on shares of PPG Industries in a research note on Wednesday, July 6th. Finally, Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $115.46.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the business’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 transaction, the insider now directly owns 69,044 shares in the company, valued at $7,362,852.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Timothy M. Knavish sold 9,300 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was 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 $1,228,768.48. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company 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.
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