Nisa Investment Advisors LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,903 shares of the specialty chemicals company’s stock after selling 2,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in PPG Industries were worth $5,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of PPG. Harbour Investments Inc. boosted its holdings in PPG Industries by 84.9% during the 1st quarter. Harbour Investments Inc. now owns 220 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 101 shares during the last quarter. Quarry LP purchased a new position in PPG Industries during the 2nd quarter worth $29,000. WFA of San Diego LLC purchased a new position in PPG Industries during the 2nd quarter worth $30,000. Intrepid Capital Management Inc. purchased a new position in PPG Industries during the 2nd quarter worth $30,000. Finally, Clear Street Markets LLC purchased a new position in PPG Industries during the 4th quarter worth $30,000. 79.18% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on PPG shares. Vertical Research raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Barclays raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and set a $160.00 price target on the stock in a report on Wednesday, October 11th. Robert W. Baird reissued an “outperform” rating and issued a $150.00 price target on shares of PPG Industries in a report on Friday. Wells Fargo & Company boosted their price target on shares of PPG Industries from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Finally, Citigroup cut their price target on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating on the stock in a report on Friday, October 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $156.56.
View Our Latest Research Report on PPG Industries
PPG Industries Trading Down 2.5 %
Shares of PPG Industries stock opened at $141.39 on Friday. The stock’s 50-day simple moving average is $143.57 and its 200 day simple moving average is $138.68. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The stock has a market capitalization of $33.34 billion, a P/E ratio of 26.48, a P/E/G ratio of 1.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.48.
PPG Industries (NYSE:PPG – Get Free Report) last announced its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.79% and a net margin of 6.96%. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.5 EPS for the current year.
PPG Industries Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, February 15th. PPG Industries’s dividend payout ratio is presently 48.69%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
Further Reading
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ABMN Staff
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