Pine Valley Investments Ltd Liability Co Sells 496 Shares of PPG Industries, Inc. (NYSE:PPG)

Pine Valley Investments Ltd Liability Co cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,003 shares of the specialty chemicals company’s stock after selling 496 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in PPG Industries were worth $1,763,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of PPG Industries by 49.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock worth $4,239,000 after purchasing an additional 9,384 shares during the last quarter. BDF Gestion acquired a new stake in shares of PPG Industries in the second quarter valued at about $3,452,000. State Board of Administration of Florida Retirement System raised its position in shares of PPG Industries by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after acquiring an additional 22,079 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PPG Industries by 17.2% in the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $22,048,000. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PPG shares. UBS Group upped their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Citigroup decreased their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. BMO Capital Markets lowered their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Barclays decreased their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Finally, Royal Bank of Canada dropped their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Performance

NYSE PPG opened at $129.73 on Friday. 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 company has a fifty day simple moving average of $125.51 and a 200 day simple moving average of $132.37. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a market cap of $30.27 billion, a P/E ratio of 21.91, a PEG ratio of 1.75 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the company earned $2.25 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be paid a $0.68 dividend. The ex-dividend date is Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.10%. PPG Industries’s dividend payout ratio is 45.95%.

PPG Industries Company Profile

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.