Guyasuta Investment Advisors Inc. lifted its stake in shares of PPG Industries (NYSE:PPG) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,272 shares of the specialty chemicals company’s stock after buying an additional 1,070 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in PPG Industries were worth $3,936,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. TIAA FSB raised its holdings in shares of PPG Industries by 6.2% during the 4th quarter. TIAA FSB now owns 30,031 shares of the specialty chemicals company’s stock valued at $3,508,000 after buying an additional 1,744 shares during the period. BlackRock Inc. raised its holdings in shares of PPG Industries by 1.2% during the 4th quarter. BlackRock Inc. now owns 14,943,714 shares of the specialty chemicals company’s stock valued at $1,745,724,000 after buying an additional 175,593 shares during the period. Terril Brothers Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $694,000. Koch Industries Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $345,000. Finally, KCM Investment Advisors LLC purchased a new stake in shares of PPG Industries during the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 76.92% of the company’s stock.
Several equities research analysts recently commented on PPG shares. Credit Suisse Group dropped their target price on PPG Industries from $124.00 to $122.00 and set an “outperform” rating on the stock in a report on Friday, April 20th. BMO Capital Markets assumed coverage on PPG Industries in a research note on Tuesday, March 27th. They set a “market perform” rating and a $123.00 price objective for the company. ValuEngine lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Deutsche Bank upgraded PPG Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $126.00 to $130.00 in a research note on Tuesday, March 20th. Finally, Robert W. Baird restated a “buy” rating and set a $125.00 price objective on shares of PPG Industries in a research note on Friday, April 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $124.06.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.10). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. PPG Industries’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.35 EPS. equities analysts expect that PPG Industries will post 6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Thursday, May 10th will be given a $0.45 dividend. The ex-dividend date is Wednesday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. PPG Industries’s payout ratio is 30.66%.
In other news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the transaction, the vice president now owns 27,685 shares in the company, valued at approximately $3,205,646.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries (NYSE:PPG).
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.