Mn Services Vermogensbeheer B.V. increased its stake in PPG Industries, Inc. (NYSE:PPG) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,109 shares of the specialty chemicals company’s stock after acquiring an additional 800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in PPG Industries were worth $15,363,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PPG. Trian Fund Management L.P. boosted its holdings in shares of PPG Industries by 69.2% in the fourth quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock valued at $716,572,000 after acquiring an additional 2,866,150 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of PPG Industries by 10,003.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 2,782,589 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of PPG Industries by 2.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,144,052 shares of the specialty chemicals company’s stock valued at $2,468,246,000 after acquiring an additional 643,315 shares in the last quarter. Morgan Stanley boosted its holdings in shares of PPG Industries by 43.6% in the third quarter. Morgan Stanley now owns 1,239,867 shares of the specialty chemicals company’s stock valued at $135,306,000 after acquiring an additional 376,348 shares in the last quarter. Finally, Norges Bank bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $36,143,000. Institutional investors and hedge funds own 79.63% of the company’s stock.
Several research analysts have recently issued reports on PPG shares. JPMorgan Chase & Co. cut shares of PPG Industries from a “neutral” rating to an “underweight” rating and set a $106.00 price objective for the company. in a report on Friday, March 22nd. Buckingham Research increased their price objective on shares of PPG Industries from $108.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. SunTrust Banks increased their price objective on shares of PPG Industries to $110.00 and gave the company a “hold” rating in a report on Tuesday, January 22nd. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, Credit Suisse Group reduced their target price on shares of PPG Industries to $112.00 and set a “neutral” rating for the company in a report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $118.10.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 6.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, May 9th. PPG Industries’s payout ratio is 32.43%.
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PPG Industries Company Profile
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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