Bray Capital Advisors maintained its position in shares of 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 fund owned 2,499 shares of the specialty chemicals company’s stock at the end of the second quarter. Bray Capital Advisors’ holdings in PPG Industries were worth $275,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Cable Hill Partners LLC raised its position in shares of 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 in the last quarter. Baystate Wealth Management LLC raised its stake in shares of 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 period. V Wealth Management LLC bought a new stake in shares of PPG Industries during the second quarter worth about $112,000. State of Alaska Department of Revenue bought a new stake in shares of PPG Industries during the second quarter worth about $113,000. Finally, Coconut Grove Bank raised its stake in shares of 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 period. Hedge funds and other institutional investors own 71.81% of the company’s stock.
PPG Industries, Inc. (NYSE PPG) traded down 0.03% on Wednesday, reaching $103.37. 1,910,133 shares of the company’s stock traded hands. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.67. The firm’s 50-day moving average is $109.39 and its 200 day moving average is $105.99. The stock has a market capitalization of $26.51 billion, a PE ratio of 27.20 and a beta of 1.54.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.83. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Analysts forecast that PPG Industries, Inc. will post $6.11 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, August 8th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s payout ratio is currently 41.67%.
PPG has been the topic of a number of recent analyst reports. Deutsche Bank AG restated a “hold” rating and issued a $110.00 target price (up previously from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and issued a $120.00 target price (up previously from $113.00) on shares of PPG Industries in a research note on Tuesday, April 18th. Bank of America Corporation lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research note on Monday, July 24th. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PPG Industries currently has an average rating of “Hold” and a consensus price target of $114.50.
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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