ProShare Advisors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 7.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,246,921 shares of the specialty chemicals company’s stock after selling 98,770 shares during the period. ProShare Advisors LLC owned 0.53% of PPG Industries worth $184,918,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. SeaCrest Wealth Management LLC boosted its stake in shares of PPG Industries by 2.1% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,374 shares of the specialty chemicals company’s stock valued at $500,000 after purchasing an additional 70 shares in the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of PPG Industries by 2.3% in the second quarter. Wealthcare Advisory Partners LLC now owns 3,406 shares of the specialty chemicals company’s stock valued at $505,000 after buying an additional 77 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of PPG Industries by 0.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 12,009 shares of the specialty chemicals company’s stock valued at $1,510,000 after buying an additional 79 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of PPG Industries by 3.6% in the second quarter. Wedmont Private Capital now owns 2,357 shares of the specialty chemicals company’s stock valued at $353,000 after buying an additional 81 shares during the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of PPG Industries by 15.8% in the first quarter. Park Place Capital Corp now owns 608 shares of the specialty chemicals company’s stock valued at $81,000 after buying an additional 83 shares during the last quarter. Institutional investors own 79.18% of the company’s stock.
PPG Industries Stock Up 0.5 %
Shares of PPG traded up $0.71 on Friday, hitting $135.87. The company’s stock had a trading volume of 961,746 shares, compared to its average volume of 1,462,723. The company has a quick ratio of 1.05, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The firm’s fifty day moving average price is $129.18 and its 200-day moving average price is $137.16. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89. The firm has a market capitalization of $32.04 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.14 and a beta of 1.22.
PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.13. PPG Industries had a return on equity of 23.51% and a net margin of 7.84%. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $1.66 EPS. PPG Industries’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts expect that PPG Industries, Inc. will post 7.64 EPS for the current year.
PPG Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.91%. PPG Industries’s dividend payout ratio is presently 43.55%.
Wall Street Analyst Weigh In
PPG has been the subject of a number of research analyst reports. StockNews.com initiated coverage on PPG Industries in a report on Thursday, October 5th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price target on PPG Industries from $145.00 to $158.00 and gave the company a “sector perform” rating in a report on Monday, July 24th. Morgan Stanley boosted their price objective on PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. Bank of America boosted their price objective on PPG Industries from $163.00 to $170.00 in a report on Monday, July 24th. Finally, Citigroup dropped their price objective on PPG Industries from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. Based on…
Read More: PPG Industries, Inc. (NYSE:PPG) Stock Position Cut by ProShare Advisors LLC