Diversified Trust Co trimmed its stake in PPG Industries, Inc. (NYSE:PPG – Get Rating) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,601 shares of the specialty chemicals company’s stock after selling 279 shares during the period. Diversified Trust Co’s holdings in PPG Industries were worth $526,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of PPG Industries by 61.7% during the first quarter. Wellington Management Group LLP now owns 13,393,191 shares of the specialty chemicals company’s stock worth $1,755,445,000 after purchasing an additional 5,109,132 shares during the last quarter. Norges Bank bought a new stake in shares of PPG Industries during the fourth quarter worth $275,588,000. First Trust Advisors LP grew its holdings in shares of PPG Industries by 280.6% during the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after purchasing an additional 1,279,104 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PPG Industries by 3.4% during the fourth quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock worth $3,699,182,000 after purchasing an additional 698,561 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of PPG Industries by 3.0% during the fourth quarter. State Street Corp now owns 11,498,215 shares of the specialty chemicals company’s stock worth $1,982,752,000 after purchasing an additional 338,189 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PPG has been the topic of several research analyst reports. Credit Suisse Group decreased their target price on PPG Industries to $110.00 in a report on Friday, July 22nd. Redburn Partners upgraded PPG Industries from a “neutral” rating to a “buy” rating in a report on Tuesday, September 6th. Mizuho raised their price target on PPG Industries from $162.00 to $163.00 and gave the company a “buy” rating in a report on Monday, July 25th. Vertical Research upgraded PPG Industries from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a report on Monday, June 27th. Finally, UBS Group decreased their price target on PPG Industries to $160.00 in a report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PPG Industries currently has a consensus rating of “Hold” and an average price target of $155.41.
PPG Industries Trading Down 2.9 %
PPG Industries Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.19%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.59. PPG Industries’s dividend payout ratio (DPR) is currently 54.39%.
PPG Industries Profile
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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