Robeco Institutional Asset Management B.V. increased its position in PPG Industries, Inc. (NYSE:PPG) by 31.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,534 shares of the specialty chemicals company’s stock after buying an additional 19,019 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PPG Industries were worth $9,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Bank of Edwardsville bought a new stake in PPG Industries in the first quarter valued at approximately $260,000. HMS Capital Management LLC bought a new stake in PPG Industries in the second quarter valued at approximately $137,000. Intrust Bank NA lifted its position in PPG Industries by 9.2% in the first quarter. Intrust Bank NA now owns 4,773 shares of the specialty chemicals company’s stock valued at $539,000 after purchasing an additional 403 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in PPG Industries in the first quarter valued at approximately $463,000. Finally, IMA Wealth Inc. bought a new stake in PPG Industries in the first quarter valued at approximately $90,000. Institutional investors own 78.57% of the company’s stock.
Several brokerages have weighed in on PPG. Citigroup set a $133.00 price objective on PPG Industries and gave the company a “buy” rating in a research report on Friday, July 19th. KeyCorp boosted their price objective on PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. ValuEngine downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets boosted their price objective on PPG Industries from $112.00 to $113.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. Finally, Credit Suisse Group set a $115.00 price objective on PPG Industries and gave the company a “hold” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $123.71.
Shares of PPG traded down $1.28 during mid-day trading on Tuesday, hitting $109.68. 9,927 shares of the company’s stock traded hands, compared to its average volume of 1,307,449. The company has a quick ratio of 1.01, a current ratio of 1.43 and a debt-to-equity ratio of 1.04. PPG Industries, Inc. has a 1 year low of $94.37 and a 1 year high of $121.29. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.98 and a beta of 1.22. The business has a 50-day simple moving average of $116.75.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.02. PPG Industries had a return on equity of 27.89% and a net margin of 8.07%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The business’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts forecast that PPG Industries, Inc. will post 6.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.86%. This is a boost from PPG Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, August 9th. PPG Industries’s dividend payout ratio is presently 32.43%.
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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