Russell Investments Group Ltd. lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 13.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 380,271 shares of the specialty chemicals company’s stock after selling 57,851 shares during the period. Russell Investments Group Ltd. owned 0.15% of PPG Industries worth $41,312,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of PPG. Harbour Capital Advisors LLC grew its holdings in PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 10,896 shares during the period. Bruderman Asset Management LLC bought a new position in PPG Industries during the second quarter worth about $105,000. State of Alaska Department of Revenue bought a new position in PPG Industries during the second quarter worth about $113,000. First Interstate Bank grew its holdings in PPG Industries by 3.1% during the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares during the period. Finally, Global X Management Co. LLC grew its holdings in PPG Industries by 9.2% during the second quarter. Global X Management Co. LLC now owns 1,288 shares of the specialty chemicals company’s stock worth $142,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 75.09% of the company’s stock.
PPG Industries, Inc. (PPG) traded down $0.56 during midday trading on Wednesday, hitting $116.19. 893,462 shares of the stock were exchanged, compared to its average volume of 1,443,598. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a 52 week low of $93.80 and a 52 week high of $119.85. The firm has a market capitalization of $29,916.19, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. PPG Industries’s payout ratio is 26.12%.
A number of equities research analysts have recently issued reports on PPG shares. Credit Suisse Group set a $119.00 price objective on PPG Industries and gave the stock a “buy” rating in a report on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a report on Thursday, October 19th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Robert W. Baird restated a “buy” rating and set a $115.00 price objective on shares of PPG Industries in a report on Friday, September 1st. Finally, Bank of America set a $120.00 price objective on PPG Industries and gave the stock a “hold” rating in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $119.40.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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