PPG Industries, Inc. (PPG) Holdings Lifted by Verity & Verity LLC
Verity & Verity LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,816 shares of the specialty chemicals company’s stock after purchasing an additional 534 shares during the period. PPG Industries makes up approximately 1.9% of Verity & Verity LLC’s holdings, making the stock its 21st biggest position. Verity & Verity LLC’s holdings in PPG Industries were worth $6,609,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Polaris Greystone Financial Group LLC bought a new position in PPG Industries in the 2nd quarter worth about $1,518,000. AXA grew its position in PPG Industries by 47.4% in the 2nd quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock worth $91,122,000 after purchasing an additional 266,457 shares during the last quarter. Great Lakes Advisors LLC lifted its stake in shares of PPG Industries by 214.1% in the 2nd quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock worth $733,000 after acquiring an additional 4,541 shares during the period. BlackRock Inc. lifted its stake in shares of PPG Industries by 2,006.8% in the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after acquiring an additional 13,902,595 shares during the period. Finally, LS Investment Advisors LLC lifted its stake in shares of PPG Industries by 3.4% in the 3rd quarter. LS Investment Advisors LLC now owns 23,972 shares of the specialty chemicals company’s stock worth $2,605,000 after acquiring an additional 784 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.
PPG has been the subject of a number of research analyst reports. SunTrust Banks, Inc. lowered shares of 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 note on Monday, July 24th. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 25th. Credit Suisse Group set a $119.00 price target on shares of PPG Industries and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup Inc. upped their price target on shares of PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 25th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $119.36.
Shares of PPG Industries, Inc. (PPG) traded up $0.37 on Friday, hitting $116.53. 781,615 shares of the stock traded hands, compared to its average volume of 1,426,981. PPG Industries, Inc. has a 52 week low of $90.88 and a 52 week high of $119.85. The firm has a market cap of $29,654.09, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 2.32 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business posted $1.56 EPS. PPG Industries’s quarterly revenue was up 3.2% on a year-over-year basis. research analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.54%. PPG Industries’s dividend payout ratio (DPR) is 26.12%.
In related news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now directly owns 52,748 shares in the company, valued at approximately $5,316,998.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares in the company, valued at $1,593,207.05. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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