Fiduciary Group LLC Cuts Stake in PPG Industries, Inc. (PPG)

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Fiduciary Group LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,641 shares of the specialty chemicals company’s stock after selling 95 shares during the quarter. Fiduciary Group LLC’s holdings in PPG Industries were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its position in shares of PPG Industries by 43.6% in the 3rd quarter. Morgan Stanley now owns 1,239,867 shares of the specialty chemicals company’s stock worth $135,306,000 after purchasing an additional 376,348 shares during the period. Federated Investors Inc. PA lifted its position in shares of PPG Industries by 1,306.4% in the 3rd quarter. Federated Investors Inc. PA now owns 59,377 shares of the specialty chemicals company’s stock worth $6,480,000 after purchasing an additional 55,155 shares during the period. Virtu Financial LLC purchased a new stake in shares of PPG Industries in the 4th quarter worth approximately $376,000. Boston Advisors LLC lifted its position in shares of PPG Industries by 9.4% in the 4th quarter. Boston Advisors LLC now owns 3,501 shares of the specialty chemicals company’s stock worth $358,000 after purchasing an additional 301 shares during the period. Finally, Mycio Wealth Partners LLC lifted its position in shares of PPG Industries by 11.2% in the 4th quarter. Mycio Wealth Partners LLC now owns 3,008 shares of the specialty chemicals company’s stock worth $308,000 after purchasing an additional 303 shares during the period. 78.81% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on PPG shares. Zacks Investment Research raised shares of PPG Industries from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Wednesday, May 8th. Deutsche Bank upped their price target on shares of PPG Industries from $120.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call. Barclays increased their target price on shares of PPG Industries from $115.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. BMO Capital Markets set a $112.00 target price on shares of PPG Industries and gave the company a “hold” rating in a research report on Wednesday, January 23rd. Finally, Buckingham Research increased their target price on shares of PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.89.

NYSE:PPG opened at $108.48 on Thursday. The firm has a market capitalization of $25.74 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The company has a current ratio of 1.40, a quick ratio of 0.97 and a debt-to-equity ratio of 0.92.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. Research analysts predict that PPG Industries, Inc. will post 6.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

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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.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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