Putnam FL Investment Management Co. Acquires New Stake in PPG Industries, Inc. (PPG)

Putnam FL Investment Management Co. purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,086 shares of the specialty chemicals company’s stock, valued at approximately $213,000.

A number of other institutional investors have also recently bought and sold shares of the stock. CWM Advisors LLC grew its position in PPG Industries by 6.4% during the 4th quarter. CWM Advisors LLC now owns 2,729 shares of the specialty chemicals company’s stock worth $279,000 after acquiring an additional 164 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of PPG Industries by 7.2% in the 4th quarter. Advisory Services Network LLC now owns 10,820 shares of the specialty chemicals company’s stock valued at $1,106,000 after purchasing an additional 730 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of PPG Industries by 7.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 169,791 shares of the specialty chemicals company’s stock valued at $17,358,000 after purchasing an additional 11,391 shares during the period. Clarfeld Financial Advisors LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $231,000. Finally, BT Wealth Management LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $257,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

PPG has been the topic of a number of recent analyst reports. Zacks Investment Research reissued a “hold” rating on shares of PPG Industries in a research note on Monday, December 31st. Credit Suisse Group reissued a “hold” rating and issued a $115.00 price objective on shares of PPG Industries in a research note on Thursday, January 17th. JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $105.00 to $106.00 in a research note on Friday, January 18th. SunTrust Banks upped their price target on PPG Industries to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, January 22nd. Finally, BMO Capital Markets set a $112.00 price target on PPG Industries and gave the stock a “hold” rating in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $116.40.

PPG stock traded up $2.47 during trading on Friday, reaching $119.86. 3,742,061 shares of the stock were exchanged, compared to its average volume of 1,426,813. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $121.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.96 and a current ratio of 1.40. The company has a market cap of $28.30 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.69 billion. PPG Industries had a return on equity of 28.84% and a net margin of 8.67%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. Equities analysts predict that PPG Industries, Inc. will post 6.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio (DPR) is presently 32.43%.

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About PPG Industries

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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