Univest Corp of Pennsylvania maintained its position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,149 shares of the specialty chemicals company’s stock at the end of the second quarter. Univest Corp of Pennsylvania’s holdings in PPG Industries were worth $456,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC increased its stake in PPG Industries by 10,896.0% in the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock valued at $100,000 after buying an additional 10,896 shares in the last quarter. Cable Hill Partners LLC increased its stake 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 valued at $103,000 after buying an additional 77 shares in the last quarter. Baystate Wealth Management LLC increased its stake 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 valued at $109,000 after buying an additional 40 shares in the last quarter. V Wealth Management LLC bought a new stake in PPG Industries during the second quarter valued at approximately $112,000. Finally, State of Alaska Department of Revenue acquired a new position in PPG Industries during the second quarter valued at about $113,000. 71.81% of the stock is owned by institutional investors and hedge funds.
PPG Industries, Inc. (NYSE PPG) opened at 100.73 on Friday. The company has a market cap of $25.84 billion, a PE ratio of 26.50 and a beta of 1.54. PPG Industries, Inc. has a one year low of $89.64 and a one year high of $113.67. The firm has a 50-day moving average of $108.24 and a 200-day moving average of $106.17.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts predict that PPG Industries, Inc. will post $6.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.79%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s payout ratio is presently 46.88%.
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A number of equities research analysts recently weighed in on PPG shares. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target (up previously from $113.00) on shares of PPG Industries in a research note on Tuesday, April 18th. Credit Suisse Group set a $113.00 price target on PPG Industries and gave the stock a “buy” rating in a research note on Sunday, July 23rd. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Argus raised PPG Industries from a “hold” rating to a “buy” rating and increased their price target for the stock from $110.61 to $136.00 in a research note on Wednesday, July 5th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average 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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