Sigma Planning Corp trimmed its stake in PPG Industries, Inc. (NYSE:PPG) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,702 shares of the specialty chemicals company’s stock after selling 201 shares during the quarter. Sigma Planning Corp’s holdings in PPG Industries were worth $276,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Schroder Investment Management Group lifted its position in PPG Industries by 9.1% in the 2nd quarter. Schroder Investment Management Group now owns 9,507 shares of the specialty chemicals company’s stock valued at $1,005,000 after acquiring an additional 796 shares in the last quarter. Atria Investments LLC bought a new position in PPG Industries in the 3rd quarter valued at approximately $228,000. DNB Asset Management AS lifted its position in PPG Industries by 4.6% in the 3rd quarter. DNB Asset Management AS now owns 33,683 shares of the specialty chemicals company’s stock valued at $3,676,000 after acquiring an additional 1,467 shares in the last quarter. Bank of Montreal Can lifted its position in PPG Industries by 1.9% in the 3rd quarter. Bank of Montreal Can now owns 239,319 shares of the specialty chemicals company’s stock valued at $26,115,000 after acquiring an additional 4,406 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in PPG Industries by 19.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 40,363 shares of the specialty chemicals company’s stock valued at $4,405,000 after acquiring an additional 6,603 shares in the last quarter. Hedge funds and other institutional investors own 79.42% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 10th. BMO Capital Markets set a $112.00 price objective on PPG Industries and gave the company a “hold” rating in a research report on Wednesday, January 23rd. Argus raised PPG Industries to a “buy” rating and set a $136.00 price target on the stock in a report on Thursday, December 20th. Longbow Research initiated coverage on PPG Industries in a report on Friday, November 30th. They set a “neutral” rating on the stock. Finally, Credit Suisse Group reissued a “hold” rating and set a $115.00 price target on shares of PPG Industries in a report on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $117.25.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.05. PPG Industries had a return on equity of 27.86% and a net margin of 8.84%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same period last year, the firm earned $1.19 EPS. PPG Industries’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, analysts forecast that PPG Industries, Inc. will post 6.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Friday, February 22nd will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.92 dividend on an annualized basis and a yield of 1.83%. PPG Industries’s dividend payout ratio is currently 32.43%.
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PPG Industries Company 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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