Inspire Investing LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) during the first quarter, Holdings Channel.com reports. The fund acquired 2,981 shares of the specialty chemicals company’s stock, valued at approximately $391,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockbridge Investment Management LCC boosted its stake in shares of PPG Industries by 83.0% in the fourth quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 83 shares during the period. Vectors Research Management LLC acquired a new position in PPG Industries in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC purchased a new position in PPG Industries in the 4th quarter valued at about $35,000. Covestor Ltd acquired a new stake in shares of PPG Industries during the fourth quarter valued at about $47,000. Finally, Riverview Trust Co increased its position in shares of PPG Industries by 171.0% during the first quarter. Riverview Trust Co now owns 355 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 224 shares during the last quarter. 79.12% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Rebecca B. Liebert sold 30,086 shares of the stock in a transaction that occurred on Wednesday, April 27th. The stock was sold at an average price of $129.90, for a total value of $3,908,171.40. Following the completion of the transaction, the executive vice president now directly owns 24,693 shares of the company’s stock, valued at approximately $3,207,620.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.50% of the company’s stock.
A number of brokerages have weighed in on PPG. Wells Fargo & Company lowered their objective price on PPG Industries from $170.00 to $140.00 and set an “equal weight” rating for the company in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $180.00 to $155.00 in a research report on Monday, April 25th. Barclays cut their price target on shares of PPG Industries from $175.00 to $150.00 in a report on Monday, May 2nd. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 objective price for the company in a report on Monday, June 27th. Finally, Credit Suisse Group began coverage on shares of PPG Industries in a research note on Tuesday, May 31st. They issued an “underperform” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.91.
PPG stock opened at $117.86 on Tuesday. PPG Industries, Inc. has a 1 year low of $107.06 and a 1 year high of $177.32. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.38 and a beta of 1.15. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.00 and a current ratio of 1.47. The stock’s fifty day moving average is $122.43 and its two-hundred day moving average is $137.26.
PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings data on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.25. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $0.59 per share. The ex-dividend date was Monday, May 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.00%. PPG Industries’ dividend payout ratio (DPR) is presently 52.33%.
PPG Industries Profile (Get Rating)
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company’s Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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