Crossmark Global Holdings Inc. Sells 480 Shares of PPG Industries, Inc. (NYSE:PPG)

Crossmark Global Holdings Inc. reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,560 shares of the specialty chemicals company’s stock after selling 480 shares during the period. Crossmark Global Holdings Inc.’s holdings in PPG Industries were worth $1,455,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV lifted its holdings in PPG Industries by 4.8% during the second quarter. Nations Financial Group Inc. IA ADV now owns 5,387 shares of the specialty chemicals company’s stock valued at $678,000 after purchasing an additional 247 shares in the last quarter. UMB Bank n.a. raised its position in shares of PPG Industries by 1.6% during the 2nd quarter. UMB Bank n.a. now owns 14,172 shares of the specialty chemicals company’s stock valued at $1,784,000 after purchasing an additional 221 shares during the period. F M Investments LLC purchased a new position in shares of PPG Industries during the 2nd quarter valued at $293,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of PPG Industries by 5.1% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 59,171 shares of the specialty chemicals company’s stock valued at $7,449,000 after buying an additional 2,876 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in PPG Industries by 63.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 3,549 shares of the specialty chemicals company’s stock worth $447,000 after buying an additional 1,382 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BMO Capital Markets lowered their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Barclays reduced their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada dropped their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Finally, KeyCorp reduced their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Up 0.7 %

PPG opened at $129.72 on Friday. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $125.49 and a 200 day moving average of $132.45. The firm has a market cap of $30.42 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.65 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

About PPG Industries

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.