Seaward Management Limited Partnership Has $1,055,000 Position in PPG Industries, Inc. (PPG)
Seaward Management Limited Partnership held its stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,600 shares of the specialty chemicals company’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in PPG Industries were worth $1,055,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC increased its stake in shares of PPG Industries by 10,896.0% in the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock valued at $100,000 after buying an additional 10,896 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 40 shares during the last quarter. V Wealth Management LLC acquired a new stake in shares of PPG Industries during the second quarter valued at $112,000. State of Alaska Department of Revenue acquired a new stake in shares of PPG Industries during the second quarter valued at $113,000. Finally, Coconut Grove Bank increased its stake in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 600 shares during the last quarter. 71.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPG Industries, Inc. (NYSE:PPG) opened at 103.40 on Wednesday. The company has a market cap of $26.52 billion, a P/E ratio of 27.20 and a beta of 1.54. The stock has a 50 day moving average price of $109.39 and a 200-day moving average price of $105.99. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $1.73 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post $6.11 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.45 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.80 annualized dividend and a yield of 1.74%. PPG Industries’s dividend payout ratio is currently 41.67%.
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Several brokerages have weighed in on PPG. Deutsche Bank AG lifted their target price on PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. BidaskClub downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Citigroup Inc. reaffirmed a “market perform” rating on shares of PPG Industries in a research note on Friday, April 14th. Argus raised PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. Finally, Bank of America Corporation downgraded PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research note on Monday, July 24th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $114.50.
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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