PPG Industries, Inc. $PPG Holdings Lifted by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 534,180 shares of the specialty chemicals company’s stock after buying an additional 26,990 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in PPG Industries were worth $55,763,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in shares of PPG Industries in the second quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries during the second quarter worth about $28,000. Community Bank N.A. acquired a new stake in PPG Industries in the 2nd quarter worth about $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in PPG Industries in the 2nd quarter worth about $29,000. Finally, Silvant Capital Management LLC acquired a new stake in PPG Industries in the 2nd quarter worth about $30,000. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PPG. KeyCorp boosted their price objective on shares of PPG Industries from $128.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research report on Monday, September 14th. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a research report on Friday, July 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $128.00 price target on shares of PPG Industries in a research note on Friday, October 9th. Finally, UBS Group increased their price target on PPG Industries from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $128.29.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Chancey Hagerty sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $127.14, for a total transaction of $317,850.00. Following the completion of the transaction, the vice president directly owned 9,761 shares in the company, valued at $1,241,013.54. The trade was a 20.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by company insiders.

PPG Industries Trading Down 2.1%

Shares of PPG Industries stock opened at $122.38 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.71. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a market capitalization of $27.03 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.15 and a beta of 1.00. The firm’s 50-day moving average price is $110.78 and its two-hundred day moving average price is $113.07.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 27th. The specialty chemicals company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.12 by $0.13. PPG Industries had a net margin of 9.41% and a return on equity of 20.90%. The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the company earned $2.13 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that PPG Industries, Inc. will post 7.98 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 10th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 42.29%.

PPG Industries Profile

PPG Industries, Inc. is a global supplier of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company has expanded beyond its original glass business and is headquartered in Pittsburgh, Pennsylvania. PPG’s products include architectural paints and coatings, automotive finishes, aerospace coatings, protective and marine coatings, and coatings for industrial and packaging applications. Its specialty materials support uses in areas such as construction, transportation and manufacturing.