Cohen Capital Management Inc. continued to hold its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,400 shares of the specialty chemicals company’s stock at the end of the second quarter. Cohen Capital Management Inc.’s holdings in PPG Industries were worth $704,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Cable Hill Partners LLC raised its position in PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 77 shares during the last quarter. Baystate Wealth Management LLC raised its position in PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the last quarter. Coconut Grove Bank raised its position in PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the last quarter. Global X Management Co. LLC raised its position in PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the last quarter. Finally, Robecosam AG raised its position in PPG Industries by 66.7% in the first quarter. Robecosam AG now owns 1,500 shares of the specialty chemicals company’s stock worth $158,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.
PPG Industries, Inc. (NYSE:PPG) opened at 106.37 on Monday. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a market capitalization of $27.25 billion, a P/E ratio of 27.98 and a beta of 1.56. The stock’s 50 day moving average is $110.60 and its 200-day moving average is $105.37.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 30.37%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $1.73 earnings per share. PPG Industries’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post $6.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, August 8th. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. PPG Industries’s dividend payout ratio is 41.67%.
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A number of research firms recently issued reports on PPG. Bank of America Corporation lowered shares of PPG Industries from a “buy” rating to a “neutral” rating in a research note on Monday. SunTrust Banks, Inc. lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $114.00 price target (up from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $115.23.
About PPG Industries
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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