Cape Cod Five Cents Savings Bank grew its stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,962 shares of the specialty chemicals company’s stock after buying an additional 193 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in PPG Industries were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC increased its position in PPG Industries by 66.3% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,456,745 shares of the specialty chemicals company’s stock worth $251,201,000 after purchasing an additional 580,545 shares during the last quarter. Invesco Ltd. increased its position in PPG Industries by 21.6% in the third quarter. Invesco Ltd. now owns 1,591,113 shares of the specialty chemicals company’s stock worth $227,544,000 after purchasing an additional 283,110 shares during the last quarter. Phoenix Holdings Ltd. bought a new stake in PPG Industries in the fourth quarter worth $46,611,000. Goldman Sachs Group Inc. increased its position in PPG Industries by 27.2% in the third quarter. Goldman Sachs Group Inc. now owns 1,232,434 shares of the specialty chemicals company’s stock worth $176,250,000 after purchasing an additional 263,750 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in PPG Industries by 62.7% during the fourth quarter. Victory Capital Management Inc. now owns 495,104 shares of the specialty chemicals company’s stock valued at $85,376,000 after acquiring an additional 190,845 shares during the last quarter. Hedge funds and other institutional investors own 79.12% of the company’s stock.
In other news, EVP Rebecca B. Liebert sold 30,086 shares of the business’s stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $129.90, for a total value of $3,908,171.40. Following the transaction, the executive vice president now owns 24,693 shares of the company’s stock, valued at $3,207,620.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.
Shares of NYSE PPG traded down $0.99 during midday trading on Thursday, reaching $123.31. 53,083 shares of the stock were exchanged, compared to its average volume of 1,693,901. PPG Industries, Inc. has a twelve month low of $111.32 and a twelve month high of $182.97. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.50 and a beta of 1.15. The firm has a 50-day simple moving average of $128.87 and a two-hundred day simple moving average of $148.53. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08.
PPG Industries (NYSE:PPG – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.25. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.24 billion. PPG Industries had a return on equity of 23.41% and a net margin of 6.26%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.88 EPS. Research analysts expect that PPG Industries, Inc. will post 7.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Monday, May 9th. PPG Industries’s dividend 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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