Tudor Investment Corp ET AL Lowers Holdings in PPG Industries, Inc. (PPG)

Tudor Investment Corp ET AL lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 77.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,902 shares of the specialty chemicals company’s stock after selling 16,892 shares during the quarter. Tudor Investment Corp ET AL’s holdings in PPG Industries were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Polaris Greystone Financial Group LLC bought a new position in PPG Industries during the second quarter valued at $1,518,000. AXA lifted its position in PPG Industries by 47.4% during the second quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock valued at $91,122,000 after purchasing an additional 266,457 shares during the last quarter. Great Lakes Advisors LLC lifted its position in PPG Industries by 214.1% during the second quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $733,000 after purchasing an additional 4,541 shares during the last quarter. BlackRock Inc. lifted its position in PPG Industries by 2,006.8% during the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after purchasing an additional 13,902,595 shares during the last quarter. Finally, AE Wealth Management LLC bought a new position in PPG Industries during the first quarter valued at $288,000. Institutional investors and hedge funds own 73.92% of the company’s stock.

PPG Industries, Inc. (NYSE PPG) opened at 112.64 on Tuesday. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $114.15. The company has a 50-day moving average of $106.96 and a 200 day moving average of $107.45. The stock has a market cap of $28.89 billion, a P/E ratio of 29.63 and a beta of 1.55.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. PPG Industries’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post $6.03 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is presently 46.88%.

PPG has been the subject of several research reports. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Credit Suisse Group reissued an “outperform” rating and issued a $114.00 target price (up previously from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. PPG Industries has a consensus rating of “Hold” and an average target price of $115.31.

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

WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct

Other hedge funds have also added to or reduced their stakes in the company. Polaris Greystone Financial Group LLC bought a new position in PPG Industries during the second quarter valued at $1,518,000. AXA lifted its position in PPG Industries by 47.4% during the second quarter. AXA now owns 828,685 shares of the specialty chemicals company’s stock valued at $91,122,000 after purchasing an additional 266,457 shares during the last quarter. Great Lakes Advisors LLC lifted its position in PPG Industries by 214.1% during the second quarter. Great Lakes Advisors LLC now owns 6,662 shares of the specialty chemicals company’s stock valued at $733,000 after purchasing an additional 4,541 shares during the last quarter. BlackRock Inc. lifted its position in PPG Industries by 2,006.8% during the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock valued at $1,533,684,000 after purchasing an additional 13,902,595 shares during the last quarter. Finally, AE Wealth Management LLC bought a new position in PPG Industries during the first quarter valued at $288,000. Institutional investors and hedge funds own 73.92% of the company’s stock.

PPG Industries, Inc. (NYSE PPG) opened at 112.64 on Tuesday. PPG Industries, Inc. has a 1-year low of $89.64 and a 1-year high of $114.15. The company has a 50-day moving average of $106.96 and a 200 day moving average of $107.45. The stock has a market cap of $28.89 billion, a P/E ratio of 29.63 and a beta of 1.55.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the company posted $1.73 earnings per share. PPG Industries’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts predict that PPG Industries, Inc. will post $6.03 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 1.60%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is presently 46.88%.

PPG has been the subject of several research reports. Argus upgraded shares of PPG Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Credit Suisse Group reissued an “outperform” rating and issued a $114.00 target price (up previously from $109.00) on shares of PPG Industries in a research note on Monday, July 17th. They noted that the move was a valuation call. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. PPG Industries has a consensus rating of “Hold” and an average target price of $115.31.

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

WARNING: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/10/tudor-investment-corp-et-al-lowers-holdings-in-ppg-industries-inc-ppg.html.

About PPG Industries

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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.

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

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