Strategy Asset Managers LLC Purchases New Stake in PPG Industries, Inc. (NYSE:PPG)

Strategy Asset Managers LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPGGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,592 shares of the specialty chemicals company’s stock, valued at approximately $209,000.

Other large investors have also recently bought and sold shares of the company. Rockbridge Investment Management LCC raised its holdings in PPG Industries by 83.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 83 shares during the last quarter. Vectors Research Management LLC bought a new position in PPG Industries in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC bought a new position in PPG Industries in the 4th quarter worth $35,000. Covestor Ltd bought a new position in PPG Industries in the 4th quarter worth $47,000. Finally, Missouri Trust & Investment Co bought a new position in PPG Industries in the 4th quarter worth $48,000. Institutional investors own 79.12% of the company’s stock.

In other news, EVP Rebecca B. Liebert sold 30,086 shares of the stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $129.90, for a total value of $3,908,171.40. Following the transaction, the executive vice president now owns 24,693 shares in the company, valued at approximately $3,207,620.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Shares of NYSE PPG opened at $112.74 on Thursday. The firm’s 50-day moving average price is $124.36 and its 200-day moving average price is $140.25. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08. The company has a market cap of $26.63 billion, a PE ratio of 25.00, a PEG ratio of 1.29 and a beta of 1.15. PPG Industries, Inc. has a 52-week low of $107.06 and a 52-week high of $177.32.

PPG Industries (NYSE:PPGGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.25. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.12 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Tuesday, May 10th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, May 9th. PPG Industries’s payout ratio is presently 52.33%.

PPG has been the subject of several research reports. Berenberg Bank lowered shares of PPG Industries from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $180.00 to $140.00 in a report on Friday, May 20th. TheStreet lowered shares of PPG Industries from a “b-” rating to a “c” rating in a report on Monday, May 23rd. Credit Suisse Group began coverage on shares of PPG Industries in a research note on Tuesday, May 31st. They issued an “underperform” rating and a $115.00 price target for the company. Barclays decreased their price target on shares of PPG Industries from $175.00 to $150.00 in a research note on Monday, May 2nd. Finally, Jefferies Financial Group decreased their price target on shares of PPG Industries from $170.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $164.49.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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

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