TLP Group LLC Takes Position in PPG Industries, Inc. (PPG)

TLP Group LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,357 shares of the specialty chemicals company’s stock, valued at approximately $259,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Investment Partners Ltd. OH ADV increased its position in shares of PPG Industries by 0.3% in the second quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock worth $273,000 after acquiring an additional 7 shares in the last quarter. Sigma Planning Corp boosted its holdings in shares of PPG Industries by 0.3% during the second quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 12 shares during the period. Sullivan Bruyette Speros & Blaney LLC boosted its holdings in shares of PPG Industries by 0.4% during the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after purchasing an additional 12 shares during the period. YorkBridge Wealth Partners LLC boosted its holdings in shares of PPG Industries by 0.3% during the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock worth $637,000 after purchasing an additional 15 shares during the period. Finally, Balasa Dinverno & Foltz LLC boosted its holdings in shares of PPG Industries by 1.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock worth $223,000 after purchasing an additional 31 shares during the period. 73.92% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the stock. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Credit Suisse Group restated an “outperform” rating and set a $114.00 price target (up from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $120.00 price target on shares of PPG Industries in a report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. PPG Industries presently has an average rating of “Hold” and a consensus price target of $115.19.

In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Glenn E. Bost II sold 19,812 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now directly owns 52,748 shares of the company’s stock, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Shares of PPG Industries, Inc. (NYSE PPG) opened at 109.04 on Monday. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $113.67. The firm has a 50-day moving average of $104.24 and a 200-day moving average of $106.76. The firm has a market capitalization of $27.97 billion, a PE ratio of 28.69 and a beta of 1.55.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm posted $1.73 EPS. The business’s revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that PPG Industries, Inc. will post $6.10 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.66%. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is 46.88%.

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PPG Industries Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

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

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