Private Trust Co. NA Has $1.05 Million Stake in PPG Industries, Inc. (NYSE:PPG)
Private Trust Co. NA boosted its position in PPG Industries, Inc. (NYSE:PPG) by 8.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,512 shares of the specialty chemicals company’s stock after buying an additional 760 shares during the period. Private Trust Co. NA’s holdings in PPG Industries were worth $1,045,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in PPG Industries by 2,006.8% in 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 buying an additional 13,902,595 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of PPG Industries by 639.5% in the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after buying an additional 3,643,443 shares during the period. Nordea Investment Management AB raised its stake in shares of PPG Industries by 15,312.6% in the first quarter. Nordea Investment Management AB now owns 1,807,282 shares of the specialty chemicals company’s stock worth $189,909,000 after buying an additional 1,795,556 shares during the period. OppenheimerFunds Inc. raised its stake in shares of PPG Industries by 113.5% in the first quarter. OppenheimerFunds Inc. now owns 2,531,843 shares of the specialty chemicals company’s stock worth $266,046,000 after buying an additional 1,346,064 shares during the period. Finally, Wells Fargo & Company MN increased its position in PPG Industries by 51.3% in the first quarter. Wells Fargo & Company MN now owns 2,420,642 shares of the specialty chemicals company’s stock worth $254,360,000 after buying an additional 820,978 shares in the last quarter. Institutional investors and hedge funds own 71.78% of the company’s stock.
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PPG Industries, Inc. (NYSE PPG) traded down 0.13% during trading on Tuesday, reaching $105.11. The company had a trading volume of 2,103,503 shares. The company has a market capitalization of $26.96 billion, a P/E ratio of 36.75 and a beta of 1.56. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.67. The firm’s 50 day moving average is $110.06 and its 200-day moving average is $105.94.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. On average, equities analysts expect that PPG Industries, Inc. will post $6.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. This is a boost from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio is 41.67%.
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A number of research analysts have recently commented on the company. BidaskClub upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Credit Suisse Group reiterated an “outperform” rating and set a $114.00 target price (up from $109.00) on shares of PPG Industries in a research report on Monday, July 17th. They noted that the move was a valuation call. Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.61 to $136.00 in a research report on Wednesday, July 5th. Jefferies Group LLC restated a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Barclays PLC raised their price target on PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, April 24th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. PPG Industries has a consensus rating of “Hold” and a consensus target price of $113.93.
About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. 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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