Earnest Partners LLC Cuts Position in PPG Industries, Inc. (NYSE:PPG)

Earnest Partners LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,607 shares of the specialty chemicals company’s stock after selling 433 shares during the period. Earnest Partners LLC’s holdings in PPG Industries were worth $1,209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PPG. FinTrust Capital Advisors LLC boosted its holdings in PPG Industries by 38.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 76 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after acquiring an additional 76 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after acquiring an additional 81 shares in the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of PPG Industries by 4.2% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock worth $292,000 after acquiring an additional 82 shares during the period. Finally, Applied Capital LLC FL increased its stake in PPG Industries by 1.3% in the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after purchasing an additional 82 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.0 %

Shares of NYSE PPG opened at $134.51 on Friday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The firm has a fifty day moving average of $125.48 and a 200-day moving average of $130.56. The stock has a market capitalization of $31.54 billion, a PE ratio of 22.72, a P/E/G ratio of 1.71 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the firm earned $2.25 EPS. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were paid a $0.68 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.02%. PPG Industries’s payout ratio is 45.95%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Citigroup decreased their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp cut their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Barclays lowered their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Finally, Royal Bank of Canada cut their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.