Raymond James Trust N.A. Boosts Stake in PPG Industries, Inc. (NYSE:PPG)

by · The Markets Daily

Raymond James Trust N.A. raised its position in PPG Industries, Inc. (NYSE:PPG – Free Report) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,775 shares of the specialty chemicals company’s stock after purchasing an additional 894 shares during the quarter. Raymond James Trust N.A.’s holdings in PPG Industries were worth $4,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Connections Group Inc. purchased a new position in PPG Industries in the second quarter valued at approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries in the 3rd quarter valued at $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries during the 2nd quarter valued at $37,000. Hara Capital LLC purchased a new stake in PPG Industries during the 3rd quarter worth $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in PPG Industries in the third quarter valued at about $46,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.0 %

Shares of PPG stock opened at $122.65 on Friday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm has a market capitalization of $28.45 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. The stock has a fifty day moving average of $127.00 and a two-hundred day moving average of $127.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

Read Our Latest Stock Analysis on PPG Industries

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.

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.

See Also

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