SPF Beheer BV reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 649,887 shares of the specialty chemicals company’s stock after selling 13,844 shares during the quarter. PPG Industries makes up approximately 3.2% of SPF Beheer BV’s holdings, making the stock its 17th biggest position. SPF Beheer BV owned approximately 0.26% of PPG Industries worth $75,920,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PPG. Nationwide Fund Advisors grew its stake in shares of PPG Industries by 8.6% in the third quarter. Nationwide Fund Advisors now owns 163,286 shares of the specialty chemicals company’s stock valued at $17,743,000 after buying an additional 12,888 shares in the last quarter. First Trust Advisors LP grew its stake in shares of PPG Industries by 192.8% in the third quarter. First Trust Advisors LP now owns 23,335 shares of the specialty chemicals company’s stock valued at $2,536,000 after buying an additional 15,366 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of PPG Industries by 8.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 41,153 shares of the specialty chemicals company’s stock valued at $4,472,000 after buying an additional 3,223 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of PPG Industries by 18.2% in the third quarter. Ameriprise Financial Inc. now owns 1,057,162 shares of the specialty chemicals company’s stock valued at $114,870,000 after buying an additional 162,451 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of PPG Industries by 3.3% in the third quarter. Macquarie Group Ltd. now owns 135,385 shares of the specialty chemicals company’s stock valued at $14,711,000 after buying an additional 4,325 shares in the last quarter. 76.81% of the stock is owned by institutional investors.
In other news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the completion of the sale, the vice president now owns 27,685 shares of the company’s stock, valued at $3,205,646.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.
PPG Industries stock opened at $113.95 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 52-week low of $100.45 and a 52-week high of $122.07. The company has a market cap of $28,448.91, a price-to-earnings ratio of 19.33, a price-to-earnings-growth ratio of 1.98 and a beta of 1.56.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.01. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts predict that PPG Industries, Inc. will post 6.54 EPS for the current year.
PPG Industries announced that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, February 15th. PPG Industries’s dividend payout ratio is currently 28.53%.
Several equities analysts recently weighed in on PPG shares. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, December 20th. Royal Bank of Canada reissued a “hold” rating and issued a $115.00 target price on shares of PPG Industries in a research note on Wednesday, January 17th. Raymond James Financial started coverage on shares of PPG Industries in a research note on Tuesday, December 19th. They issued an “outperform” rating and a $139.00 target price for the company. Wells Fargo reissued a “market perform” rating and issued a $120.00 target price (up from $110.00) on shares of PPG Industries in a research note on Tuesday, November 28th. They noted that the move was a valuation call. Finally, Atlantic Securities cut shares of PPG Industries from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 17th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. PPG Industries has a consensus rating of “Hold” and an average price target of $125.13.
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PPG Industries Company 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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