State of New Jersey Common Pension Fund D grew its stake in PPG Industries, Inc. (NYSE:PPG) by 227.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 360,000 shares of the specialty chemicals company’s stock after purchasing an additional 250,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.14% of PPG Industries worth $39,118,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Investment Partners Ltd. OH ADV lifted its stake in shares of PPG Industries by 0.3% in the 2nd quarter. Investment Partners Ltd. OH ADV now owns 2,485 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 7 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of PPG Industries by 0.3% in the 2nd quarter. Sigma Planning Corp now owns 4,069 shares of the specialty chemicals company’s stock valued at $447,000 after purchasing an additional 12 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC lifted its stake in shares of PPG Industries by 0.4% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock worth $348,000 after acquiring an additional 12 shares during the last quarter. Balasa Dinverno & Foltz LLC lifted its stake in shares of PPG Industries by 1.6% during the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 2,027 shares of the specialty chemicals company’s stock worth $223,000 after acquiring an additional 31 shares during the last quarter. Finally, First Interstate Bank lifted its stake in shares of PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after acquiring an additional 35 shares during the last quarter. 74.57% of the stock is owned by institutional investors and hedge funds.
In other news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.
PPG has been the subject of a number of research analyst reports. SunTrust Banks, Inc. lowered PPG Industries from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $113.00 in a research note on Monday, July 24th. Zacks Investment Research downgraded PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Credit Suisse Group set a $119.00 price objective on PPG Industries and gave the stock a “buy” rating in a report on Friday, October 20th. Citigroup Inc. raised their price objective on PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, KeyCorp reiterated a “buy” rating and issued a $125.00 price target on shares of PPG Industries in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $119.36.
Shares of PPG Industries, Inc. (NYSE PPG) traded down $0.46 during mid-day trading on Friday, hitting $114.67. The stock had a trading volume of 908,500 shares, compared to its average volume of 1,316,002. The firm has a market cap of $29,180.76, a PE ratio of 19.47, a PEG ratio of 2.28 and a beta of 1.59. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a fifty-two week low of $93.80 and a fifty-two week high of $119.85.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. research analysts expect that PPG Industries, Inc. will post 5.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.
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PPG Industries Profile
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.
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