Savant Capital LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,393 shares of the specialty chemicals company’s stock after buying an additional 121 shares during the period. Savant Capital LLC’s holdings in PPG Industries were worth $483,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PPG. Vanguard Group Inc. increased its position 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 valued at $2,042,875,000 after buying an additional 541,039 shares during the period. Massachusetts Financial Services Co. MA increased its position 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 valued at $1,948,708,000 after buying an additional 216,278 shares during the period. BlackRock Inc. increased its position 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 valued at $1,533,684,000 after buying an additional 13,902,595 shares during the period. Clearbridge Investments LLC increased its position 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 valued at $524,545,000 after buying an additional 222,376 shares during the period. Finally, Lazard Asset Management LLC increased its position 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 valued at $442,716,000 after buying an additional 3,643,443 shares during the period. Institutional investors and hedge funds own 71.54% of the company’s stock.
Shares of PPG Industries, Inc. (NYSE PPG) opened at 100.73 on Monday. The firm 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 1-year low of $89.64 and a 1-year high of $113.67. The firm’s 50-day moving average price is $108.24 and its 200 day moving average price is $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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm 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 company earned $1.73 EPS. PPG Industries’s revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries, Inc. will post $6.11 EPS for the current fiscal year.
The business also recently announced 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 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. PPG Industries’s dividend payout ratio is presently 46.88%.
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PPG has been the topic of several research reports. SunTrust Banks, Inc. downgraded PPG Industries from a “buy” rating to a “hold” rating and decreased their target price for the company from $120.00 to $113.00 in a research report on Monday, July 24th. TheStreet raised PPG Industries from a “c+” rating to a “b+” rating in a report on Monday, May 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 price target (up previously from $113.00) on shares of PPG Industries in a report on Tuesday, April 18th. Barclays PLC increased 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. Finally, Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus 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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