Janney Capital Management LLC Sells 1,086 Shares of PPG Industries, Inc. (PPG)

Janney Capital Management LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,811 shares of the specialty chemicals company’s stock after selling 1,086 shares during the period. Janney Capital Management LLC’s holdings in PPG Industries were worth $3,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PPG. Capital Research Global Investors acquired a new stake in shares of PPG Industries in the second quarter valued at about $192,226,000. American Century Companies Inc. raised its position in shares of PPG Industries by 408.2% in the third quarter. American Century Companies Inc. now owns 1,878,315 shares of the specialty chemicals company’s stock valued at $204,098,000 after buying an additional 1,508,715 shares during the last quarter. Nordea Investment Management AB raised its position in shares of PPG Industries by 52.6% in the second quarter. Nordea Investment Management AB now owns 2,758,249 shares of the specialty chemicals company’s stock valued at $303,297,000 after buying an additional 950,967 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of PPG Industries in the third quarter valued at about $63,331,000. Finally, Principal Financial Group Inc. raised its position in shares of PPG Industries by 137.0% in the second quarter. Principal Financial Group Inc. now owns 889,949 shares of the specialty chemicals company’s stock valued at $97,858,000 after buying an additional 514,393 shares during the last quarter. Institutional investors and hedge funds own 75.09% of the company’s stock.

Shares of PPG Industries, Inc. (PPG) traded down $0.24 during mid-day trading on Tuesday, reaching $115.68. 948,800 shares of the company’s stock traded hands, compared to its average volume of 1,437,433. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $29,498.85, a price-to-earnings ratio of 19.68, a PEG ratio of 2.31 and a beta of 1.59. PPG Industries, Inc. has a one year low of $93.80 and a one year high of $119.85.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. PPG Industries’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. sell-side analysts anticipate that PPG Industries, Inc. will post 5.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 26.12%.

PPG has been the subject of a number of recent research reports. Robert W. Baird reiterated a “buy” rating and issued a $115.00 target price on shares of PPG Industries in a research report on Friday, September 1st. Bank of America set a $120.00 price objective on shares of PPG Industries and gave the stock a “hold” rating in a research report on Friday, October 20th. Royal Bank of Canada restated a “hold” rating and set a $109.00 price objective on shares of PPG Industries in a research report on Wednesday, September 13th. Citigroup raised their price objective on shares of PPG Industries from $114.00 to $127.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. PPG Industries has an average rating of “Hold” and a consensus target price of $119.40.

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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.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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