LS Investment Advisors LLC Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

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LS Investment Advisors LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,374 shares of the specialty chemicals company’s stock after selling 525 shares during the period. LS Investment Advisors LLC’s holdings in PPG Industries were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HMS Capital Management LLC purchased a new stake in shares of PPG Industries in the second quarter valued at about $137,000. Intrust Bank NA raised its position in shares of PPG Industries by 9.2% in the first quarter. Intrust Bank NA now owns 4,773 shares of the specialty chemicals company’s stock valued at $539,000 after buying an additional 403 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $463,000. IMA Wealth Inc. acquired a new position in shares of PPG Industries in the first quarter valued at approximately $90,000. Finally, Horizon Investments LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $265,000. 79.33% of the stock is currently owned by institutional investors.

In other news, VP Vadlamannati Ramaprasad sold 13,904 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $117.12, for a total value of $1,628,436.48. Following the completion of the sale, the vice president now owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $106.88, for a total transaction of $267,200.00. Following the completion of the sale, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating and set a $125.00 price objective for the company in a research report on Thursday, July 4th. Royal Bank of Canada boosted their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. SunTrust Banks reissued a “hold” rating and issued a $123.00 price objective on shares of PPG Industries in a research report on Friday, July 19th. They noted that the move was a valuation call. Citigroup set a $133.00 price objective on shares of PPG Industries and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Credit Suisse Group set a $115.00 price objective on shares of PPG Industries and gave the company a “hold” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. PPG Industries currently has a consensus rating of “Hold” and an average target price of $122.33.

Shares of PPG Industries stock traded down $0.14 during trading hours on Tuesday, hitting $107.03. The company’s stock had a trading volume of 40,088 shares, compared to its average volume of 1,081,862. PPG Industries, Inc. has a 1-year low of $94.37 and a 1-year high of $121.29. The business has a fifty day moving average of $114.46 and a 200 day moving average of $113.14. The company has a market capitalization of $25.17 billion, a PE ratio of 18.09, a P/E/G ratio of 1.85 and a beta of 1.22. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 1.04.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.02. PPG Industries had a net margin of 8.07% and a return on equity of 27.89%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 6.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be given a $0.51 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.04 annualized dividend and a dividend yield of 1.91%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. PPG Industries’s dividend payout ratio is presently 34.46%.

PPG Industries Company Profile

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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