Neuberger Berman Group LLC lifted its holdings in PPG Industries (NYSE:PPG) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 867,991 shares of the specialty chemicals company’s stock after buying an additional 134,960 shares during the period. Neuberger Berman Group LLC owned about 0.35% of PPG Industries worth $96,868,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Boulegeris Investments Inc. boosted its position in shares of PPG Industries by 4.8% in the first quarter. Boulegeris Investments Inc. now owns 11,573 shares of the specialty chemicals company’s stock worth $1,292,000 after buying an additional 525 shares during the period. Aperio Group LLC boosted its position in shares of PPG Industries by 3.9% in the first quarter. Aperio Group LLC now owns 130,747 shares of the specialty chemicals company’s stock worth $14,591,000 after buying an additional 4,863 shares during the period. Fiduciary Trust Co. boosted its position in shares of PPG Industries by 18.8% in the first quarter. Fiduciary Trust Co. now owns 60,726 shares of the specialty chemicals company’s stock worth $6,777,000 after buying an additional 9,618 shares during the period. ING Groep NV boosted its position in shares of PPG Industries by 119.0% in the first quarter. ING Groep NV now owns 10,722 shares of the specialty chemicals company’s stock worth $1,197,000 after buying an additional 5,826 shares during the period. Finally, Montag A & Associates Inc. boosted its position in shares of PPG Industries by 7.6% in the first quarter. Montag A & Associates Inc. now owns 11,821 shares of the specialty chemicals company’s stock worth $1,319,000 after buying an additional 835 shares during the period. 76.92% of the stock is owned by institutional investors and hedge funds.
In other PPG Industries news, VP Jean-Marie Greindl sold 9,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total transaction of $1,100,005.00. Following the transaction, the vice president now directly owns 27,685 shares in the company, valued at $3,205,646.15. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.33% of the stock is owned by company insiders.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.10). PPG Industries had a net margin of 10.94% and a return on equity of 26.15%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business posted $1.35 EPS. PPG Industries’s revenue for the quarter was up 8.6% on a year-over-year basis. analysts predict that PPG Industries will post 6.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Thursday, May 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, May 9th. This represents a $1.80 annualized dividend and a yield of 1.72%. PPG Industries’s dividend payout ratio (DPR) is currently 30.66%.
Several analysts have recently commented on PPG shares. Credit Suisse Group decreased their target price on PPG Industries from $124.00 to $122.00 and set an “outperform” rating for the company in a research report on Friday, April 20th. BMO Capital Markets started coverage on PPG Industries in a research report on Tuesday, March 27th. They issued a “market perform” rating and a $123.00 target price for the company. ValuEngine cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Deutsche Bank raised PPG Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $126.00 to $130.00 in a research report on Tuesday, March 20th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $125.00 target price on shares of PPG Industries in a research report on Friday, April 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. PPG Industries currently has an average rating of “Hold” and a consensus price target of $124.06.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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