Quantbot Technologies LP Buys New Holdings in PPG Industries, Inc. (PPG)
Quantbot Technologies LP bought a new position in PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 14,353 shares of the specialty chemicals company’s stock, valued at approximately $1,559,000.
Other institutional investors have also bought and sold shares of the company. Bruderman Asset Management LLC bought a new stake in shares of PPG Industries in the 2nd quarter worth $105,000. State of Alaska Department of Revenue bought a new stake in shares of PPG Industries in the 2nd quarter worth $113,000. First Interstate Bank increased its holdings in shares of PPG Industries by 3.1% in the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares in the last quarter. Global X Management Co. LLC increased its holdings in shares of PPG Industries by 9.2% in the 2nd quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 108 shares in the last quarter. Finally, Grove Bank & Trust increased its holdings in shares of PPG Industries by 28.6% in the 2nd quarter. Grove Bank & Trust now owns 1,516 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 337 shares in the last quarter. 74.67% of the stock is owned by institutional investors and hedge funds.
PPG Industries, Inc. (PPG) opened at $113.83 on Friday. The firm has a market capitalization of $28,967.00, a price-to-earnings ratio of 19.33, a P/E/G ratio of 2.26 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, Inc. has a 52-week low of $93.80 and a 52-week high of $119.85.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. PPG Industries’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 earnings per share. equities analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be given 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 yield of 1.58%. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.
A number of research firms have commented on PPG. 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. BidaskClub lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, July 31st. SunTrust Banks, Inc. lowered PPG Industries from a “buy” rating to a “hold” rating and reduced their target price for the stock from $120.00 to $113.00 in a report on Monday, July 24th. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Finally, Citigroup Inc. lifted their target price on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $119.36.
PPG Industries Profile
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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