FDx Advisors Inc. Cuts Stake in PPG Industries, Inc. (PPG)

FDx Advisors Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,704 shares of the specialty chemicals company’s stock after selling 2,017 shares during the period. FDx Advisors Inc.’s holdings in PPG Industries were worth $1,489,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at $105,000. V Wealth Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at $112,000. State of Alaska Department of Revenue purchased a new position in shares of PPG Industries during the second quarter valued at $113,000. First Interstate Bank increased its stake in shares of PPG Industries by 3.1% during the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock valued at $127,000 after buying an additional 35 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of PPG Industries by 9.2% during the second quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock valued at $142,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 74.67% of the company’s stock.

In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’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 sale, the insider now owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

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Shares of PPG Industries, Inc. (PPG) opened at $114.55 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $29,180.75, a PE ratio of 19.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59. PPG Industries, Inc. has a twelve month low of $93.80 and a twelve month high of $119.85.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.56 earnings per share. sell-side analysts forecast that PPG Industries, Inc. will post 5.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio is presently 26.12%.

Several brokerages have recently commented on PPG. Deutsche Bank AG raised their price target on PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. BidaskClub lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Robert W. Baird reiterated a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $109.00 target price on shares of PPG Industries in a research note on Wednesday, September 13th. Finally, Bank of America Corporation lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $119.36.

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.

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

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