Toronto Dominion Bank Has $16.02 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Toronto Dominion Bank decreased its position in PPG Industries, Inc. (NYSE:PPG) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,272 shares of the specialty chemicals company’s stock after selling 15,573 shares during the period. Toronto Dominion Bank owned about 0.05% of PPG Industries worth $16,022,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PPG. Financial Connections Group Inc. acquired a new position in shares of PPG Industries in the second quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in PPG Industries in the 1st quarter valued at $29,000. YHB Investment Advisors Inc. acquired a new position in shares of PPG Industries in the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in shares of PPG Industries during the 4th quarter worth about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of PPG Industries during the 1st quarter valued at about $34,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PPG. Barclays dropped their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada cut their target price 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. Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets dropped their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Price Performance

Shares of PPG stock opened at $134.54 on Friday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $125.42 and its 200-day moving average is $130.53. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.71 and a beta of 1.26.

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

PPG Industries Increases Dividend

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

PPG Industries 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.