PPG Industries, Inc. (NYSE:PPG) Position Held by Walter & Keenan Financial Consulting Co. MI ADV
Walter & Keenan Financial Consulting Co. MI ADV maintained its stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, Holdings Channel reports. The institutional investor owned 2,016 shares of the specialty chemicals company’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in PPG Industries were worth $222,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. 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 period. 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 period. V Wealth Management LLC purchased a new stake in shares of PPG Industries during the second quarter valued at approximately $112,000. State of Alaska Department of Revenue purchased a new stake in shares of PPG Industries during the second quarter valued at approximately $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 period. 71.81% of the stock is currently owned by institutional investors.
Shares of PPG Industries, Inc. (PPG) opened at 101.33 on Friday. The stock’s 50 day moving average is $108.52 and its 200-day moving average is $106.17. The stock has a market cap of $25.99 billion, a P/E ratio of 26.66 and a beta of 1.54. PPG Industries, Inc. has a one year low of $89.64 and a one year high of $113.67.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that PPG Industries, Inc. will post $6.11 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.78%. PPG Industries’s payout ratio is presently 46.88%.
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Several brokerages recently commented on PPG. Deutsche Bank AG increased their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research report on Friday, July 21st. BidaskClub downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Citigroup Inc. reissued a “market perform” rating on shares of PPG Industries in a research report on Friday, April 14th. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Finally, Bank of America Corporation downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research report on Monday, July 24th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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