TD Asset Management Inc. Cuts Stake in PPG Industries, Inc. (PPG)
TD Asset Management Inc. cut its position in PPG Industries, Inc. (NYSE:PPG) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,505 shares of the specialty chemicals company’s stock after selling 12,574 shares during the period. TD Asset Management Inc. owned approximately 0.06% of PPG Industries worth $16,137,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PPG. Harbour Capital Advisors LLC grew its holdings in PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after acquiring an additional 10,896 shares during the period. Bruderman Asset Management LLC acquired a new stake in PPG Industries during the second quarter worth about $105,000. State of Alaska Department of Revenue acquired a new stake in PPG Industries during the second quarter worth about $113,000. First Interstate Bank grew its holdings in PPG Industries by 3.1% during the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 35 shares during the period. Finally, Global X Management Co. LLC grew its holdings in PPG Industries by 9.2% during the second quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 108 shares during the period. 75.09% of the stock is currently owned by institutional investors and hedge funds.
PPG has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $109.00 target price on shares of PPG Industries in a report on Wednesday, August 9th. KeyCorp reaffirmed a “buy” rating and set a $125.00 target price on shares of PPG Industries in a report on Friday, August 25th. Robert W. Baird reaffirmed a “buy” rating and set a $115.00 target price on shares of PPG Industries in a report on Friday, September 1st. Jefferies Group reaffirmed a “buy” rating and set a $120.00 target price on shares of PPG Industries in a report on Friday, September 15th. Finally, Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $119.40.
Shares of PPG Industries, Inc. (NYSE:PPG) traded down $0.92 on Friday, reaching $115.93. The company’s stock had a trading volume of 1,540,781 shares, compared to its average volume of 1,448,321. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.65. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85. The firm has a market capitalization of $29,500.00, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.33 and a beta of 1.60.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the company earned $1.56 earnings per share. PPG Industries’s quarterly revenue was up 3.2% compared to the same quarter last year. analysts anticipate that PPG Industries, Inc. will post 5.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. PPG Industries’s dividend payout ratio (DPR) is presently 35.86%.
PPG Industries Company 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.
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.