ProShare Advisors LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 5.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 976,902 shares of the specialty chemicals company’s stock after buying an additional 52,028 shares during the quarter. ProShare Advisors LLC owned about 0.41% of PPG Industries worth $168,457,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PPG. Ceredex Value Advisors LLC grew its holdings in shares of PPG Industries by 66.3% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,456,745 shares of the specialty chemicals company’s stock valued at $251,201,000 after purchasing an additional 580,545 shares during the last quarter. Invesco Ltd. grew its holdings in shares of PPG Industries by 21.6% during the third quarter. Invesco Ltd. now owns 1,591,113 shares of the specialty chemicals company’s stock valued at $227,544,000 after purchasing an additional 283,110 shares during the last quarter. Phoenix Holdings Ltd. bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $46,611,000. Goldman Sachs Group Inc. grew its holdings in shares of PPG Industries by 27.2% during the third quarter. Goldman Sachs Group Inc. now owns 1,232,434 shares of the specialty chemicals company’s stock valued at $176,250,000 after purchasing an additional 263,750 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in PPG Industries by 62.7% in the 4th quarter. Victory Capital Management Inc. now owns 495,104 shares of the specialty chemicals company’s stock worth $85,376,000 after buying an additional 190,845 shares in the last quarter. Hedge funds and other institutional investors own 78.95% of the company’s stock.
A number of equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on PPG Industries from $199.00 to $181.00 and set an “outperform” rating for the company in a report on Monday, January 24th. Vertical Research lowered PPG Industries from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a report on Tuesday, January 4th. Jefferies Financial Group decreased their price objective on PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a report on Wednesday, March 9th. Royal Bank of Canada decreased their price objective on PPG Industries from $174.00 to $169.00 in a report on Tuesday, January 25th. Finally, Wells Fargo & Company cut their target price on PPG Industries from $170.00 to $140.00 and set an “equal weight” rating for the company in a research report on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $169.76.
PPG Industries (NYSE:PPG – Get Rating) last released its earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.25. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.24 billion. PPG Industries had a return on equity of 23.34% and a net margin of 6.26%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.88 earnings per share. As a group, research analysts forecast that PPG Industries, Inc. will post 7.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th will be issued a $0.59 dividend. The ex-dividend date is Monday, May 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.79%. PPG Industries’s payout ratio is currently 52.33%.
PPG Industries Company Profile (Get Rating)
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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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