tru Independence LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 59.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the specialty chemicals company’s stock after selling 1,792 shares during the quarter. tru Independence LLC’s holdings in PPG Industries were worth $127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PPG. Clearbridge Investments LLC raised its position in shares of PPG Industries by 16.9% in the first quarter. Clearbridge Investments LLC now owns 6,571,310 shares of the specialty chemicals company’s stock valued at $549,362,000 after purchasing an additional 947,678 shares during the period. First Eagle Investment Management LLC bought a new position in shares of PPG Industries in the first quarter valued at about $74,708,000. Nuveen Asset Management LLC raised its position in shares of PPG Industries by 52.5% in the first quarter. Nuveen Asset Management LLC now owns 2,372,351 shares of the specialty chemicals company’s stock valued at $198,329,000 after purchasing an additional 816,465 shares during the period. Ceredex Value Advisors LLC raised its position in shares of PPG Industries by 136.0% in the first quarter. Ceredex Value Advisors LLC now owns 943,250 shares of the specialty chemicals company’s stock valued at $78,856,000 after purchasing an additional 543,600 shares during the period. Finally, FMR LLC raised its position in shares of PPG Industries by 84.3% in the second quarter. FMR LLC now owns 1,136,356 shares of the specialty chemicals company’s stock valued at $120,522,000 after purchasing an additional 519,829 shares during the period. 77.11% of the stock is currently owned by institutional investors.

Shares of PPG traded up $0.43 during mid-day trading on Wednesday, reaching $130.35. The company had a trading volume of 17,764 shares, compared to its average volume of 1,842,814. The company’s 50 day simple moving average is $118.39 and its 200 day simple moving average is $103.03. PPG Industries, Inc. has a 1-year low of $69.77 and a 1-year high of $134.36. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $30.66 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 5.11 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 16th. The specialty chemicals company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.70 by $0.29. PPG Industries had a net margin of 7.23% and a return on equity of 23.88%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the company earned $1.85 EPS. As a group, equities analysts forecast that PPG Industries, Inc. will post 4.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 10th were given a dividend of $0.54 per share. The ex-dividend date was Friday, August 7th. This is an increase from PPG Industries’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 1.66%. PPG Industries’s dividend payout ratio (DPR) is currently 34.73%.

In related news, EVP Timothy M. Knavish sold 15,300 shares of PPG Industries stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $120.69, for a total transaction of $1,846,557.00. 0.41% of the stock is owned by company insiders.

PPG has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of PPG Industries from $112.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. Wells Fargo & Company raised their price target on shares of PPG Industries from $124.00 to $137.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on shares of PPG Industries from $105.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. Robert W. Baird raised their price target on shares of PPG Industries from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. Finally, TheStreet raised shares of PPG Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, August 26th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $120.50.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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