Candriam Luxembourg S.C.A. Has $4.98 Million Position in PPG Industries, Inc. (NYSE:PPG)
Candriam Luxembourg S.C.A. cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,243 shares of the specialty chemicals company’s stock after selling 2,607 shares during the period. Candriam Luxembourg S.C.A.’s holdings in PPG Industries were worth $4,975,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BKD Wealth Advisors LLC bought a new stake in PPG Industries during the first quarter valued at about $345,000. Banced Corp raised its stake in PPG Industries by 5.5% in the first quarter. Banced Corp now owns 2,549 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 134 shares during the last quarter. Marathon Asset Management LLP raised its stake in PPG Industries by 40.0% in the first quarter. Marathon Asset Management LLP now owns 316,106 shares of the specialty chemicals company’s stock valued at $33,217,000 after buying an additional 90,338 shares during the last quarter. Regentatlantic Capital LLC raised its stake in PPG Industries by 1.0% in the first quarter. Regentatlantic Capital LLC now owns 10,094 shares of the specialty chemicals company’s stock valued at $1,061,000 after buying an additional 103 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in PPG Industries by 1.7% in the first quarter. Bank of Montreal Can now owns 178,854 shares of the specialty chemicals company’s stock valued at $18,793,000 after buying an additional 3,071 shares during the last quarter. 71.81% of the stock is owned by institutional investors and hedge funds.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. PPG Industries’s dividend payout ratio is 41.67%.
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Several equities research analysts have recently issued reports on the company. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group reissued an “outperform” rating and set a $114.00 price target (up from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. Argus raised PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.61 to $136.00 in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Barclays PLC raised their price target on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $113.93.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. 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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