Diversified Trust Co Boosts Stock Position in PPG Industries, Inc. (NYSE:PPG)

by · The Cerbat Gem

Diversified Trust Co lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 13.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,141 shares of the specialty chemicals company’s stock after acquiring an additional 5,611 shares during the quarter. Diversified Trust Co’s holdings in PPG Industries were worth $5,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC boosted its stake in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company’s stock worth $54,000 after buying an additional 92 shares during the period. Beacon Capital Management LLC lifted its holdings in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 101 shares during the last quarter. Snowden Capital Advisors LLC boosted its stake in shares of PPG Industries by 3.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company’s stock worth $376,000 after purchasing an additional 113 shares during the period. CVA Family Office LLC grew its holdings in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, Warther Private Wealth LLC grew its holdings in PPG Industries by 3.8% during the 1st quarter. Warther Private Wealth LLC now owns 3,090 shares of the specialty chemicals company’s stock valued at $338,000 after purchasing an additional 114 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PPG has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada raised their price target on PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a report on Thursday, May 1st. Finally, Argus downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.83.

Read Our Latest Report on PPG

PPG Industries Stock Performance

PPG stock opened at $113.89 on Friday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The business has a 50-day moving average price of $109.65 and a 200 day moving average price of $112.59. The company has a market capitalization of $25.85 billion, a P/E ratio of 24.39, a PEG ratio of 2.37 and a beta of 1.17. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 EPS. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries’s dividend payout ratio (DPR) is currently 58.24%.

PPG Industries Company Profile

(Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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