Thompson Rubinstein Investment Management Inc. OR continued to hold its stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,320 shares of the specialty chemicals company’s stock at the end of the second quarter. Thompson Rubinstein Investment Management Inc. OR’s holdings in PPG Industries were worth $1,575,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of PPG. Vanguard Group Inc. boosted its stake in PPG Industries by 2.9% in the first quarter. Vanguard Group Inc. now owns 19,441,146 shares of the specialty chemicals company’s stock worth $2,042,875,000 after buying an additional 541,039 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PPG Industries by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after buying an additional 216,278 shares during the last quarter. BlackRock Inc. boosted its stake in PPG Industries by 2,006.8% in the first quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after buying an additional 13,902,595 shares during the last quarter. Clearbridge Investments LLC boosted its stake in PPG Industries by 4.7% in the first quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after buying an additional 222,376 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its stake in PPG Industries by 639.5% in the first quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after buying an additional 3,643,443 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.
PPG Industries, Inc. (NYSE PPG) opened at 106.72 on Friday. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The firm has a market capitalization of $27.34 billion, a price-to-earnings ratio of 32.68 and a beta of 1.56. The company’s 50-day moving average price is $110.60 and its 200-day moving average price is $105.37.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.83. PPG Industries had a return on equity of 30.40% and a net margin of 5.79%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that PPG Industries, Inc. will post $6.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio is 48.93%.
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A number of equities research analysts have issued reports on PPG shares. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target (up from $113.00) on shares of PPG Industries in a report on Tuesday, April 18th. Barclays PLC raised their price target on PPG Industries from $110.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, April 24th. Deutsche Bank AG reissued a “hold” rating and set a $110.00 price target (up from $102.00) on shares of PPG Industries in a report on Sunday, April 23rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $114.00 price target (up from $109.00) on shares of PPG Industries in a report on Monday. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $114.85.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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