Great Lakes Advisors LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG – Free Report) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,187 shares of the specialty chemicals company’s stock after selling 156 shares during the quarter. Great Lakes Advisors LLC’s holdings in PPG Industries were worth $3,142,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of PPG. Prospector Partners LLC boosted its holdings in shares of PPG Industries by 6.2% in the second quarter. Prospector Partners LLC now owns 103,762 shares of the specialty chemicals company’s stock worth $15,388,000 after acquiring an additional 6,050 shares during the period. Russell Investments Group Ltd. grew its holdings in PPG Industries by 18.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 208,546 shares of the specialty chemicals company’s stock valued at $30,766,000 after buying an additional 32,663 shares in the last quarter. Ledyard National Bank increased its position in shares of PPG Industries by 9.7% during the second quarter. Ledyard National Bank now owns 2,331 shares of the specialty chemicals company’s stock valued at $346,000 after buying an additional 206 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of PPG Industries by 1.4% in the second quarter. Moors & Cabot Inc. now owns 12,030 shares of the specialty chemicals company’s stock worth $1,784,000 after buying an additional 161 shares in the last quarter. Finally, Nwam LLC boosted its position in shares of PPG Industries by 0.8% in the second quarter. Nwam LLC now owns 13,906 shares of the specialty chemicals company’s stock valued at $2,062,000 after acquiring an additional 106 shares during the period. 79.18% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries Trading Down 0.2 %
Shares of PPG opened at $135.56 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.48. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a 50 day moving average price of $129.16 and a 200-day moving average price of $137.15. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.14 and a beta of 1.22.
PPG Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.60 annualized dividend and a yield of 1.92%. PPG Industries’s payout ratio is currently 43.55%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on PPG shares. Citigroup lowered their target price on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating on the stock in a research note on Friday, October 20th. Bank of America increased their price objective on PPG Industries from $163.00 to $170.00 in a research report on Monday, July 24th. BMO Capital Markets boosted their target price on PPG Industries from $158.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. StockNews.com began coverage on PPG Industries in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, KeyCorp cut their price objective on PPG Industries from $172.00 to $166.00 and set an “overweight” rating for the company in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $155.44.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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