PPG Industries, Inc. (PPG) Position Held by Birch Hill Investment Advisors LLC
Birch Hill Investment Advisors LLC continued to hold its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,200 shares of the specialty chemicals company’s stock at the close of the second quarter. Birch Hill Investment Advisors LLC’s holdings in PPG Industries were worth $462,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Polaris Greystone Financial Group LLC bought a new position in PPG Industries in the second quarter valued at about $1,518,000. AXA lifted its holdings in PPG Industries by 47.4% in the second quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock valued at $91,122,000 after acquiring an additional 266,457 shares during the period. LS Investment Advisors LLC lifted its holdings in PPG Industries by 18.3% in the first quarter. LS Investment Advisors LLC now owns 31,078 shares of the specialty chemicals company’s stock valued at $3,266,000 after acquiring an additional 4,799 shares during the period. Swiss National Bank lifted its holdings in PPG Industries by 26.1% in the first quarter. Swiss National Bank now owns 935,360 shares of the specialty chemicals company’s stock valued at $98,288,000 after acquiring an additional 193,800 shares during the period. Finally, BlackRock Inc. lifted its holdings in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after acquiring an additional 13,902,595 shares during the period. 73.92% of the stock is currently owned by institutional investors.
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A number of research analysts have weighed in on the company. Royal Bank Of Canada reissued a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research report on Friday. BidaskClub cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. SunTrust Banks, Inc. cut PPG Industries from a “buy” rating to a “hold” rating and reduced their price target for the stock from $120.00 to $113.00 in a research report on Monday, July 24th. Finally, KeyCorp restated a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a research report on Friday, August 25th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $115.19.
In related news, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the transaction, the insider now directly owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
PPG Industries, Inc. (PPG) traded up 0.08% during mid-day trading on Monday, hitting $106.39. The company had a trading volume of 268,685 shares. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.67. The firm has a market capitalization of $27.29 billion, a P/E ratio of 27.99 and a beta of 1.55. The company has a 50-day moving average price of $104.13 and a 200 day moving average price of $106.63.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. PPG Industries’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. Equities analysts forecast that PPG Industries, Inc. will post $6.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Thursday, August 10th were issued a $0.45 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. PPG Industries’s dividend payout ratio is presently 46.88%.
About PPG Industries
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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