Natixis Advisors LLC Sells 5,404 Shares of PPG Industries, Inc. (NYSE:PPG)

Natixis Advisors LLC cut its position in PPG Industries, Inc. (NYSE:PPG) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,046 shares of the specialty chemicals company’s stock after selling 5,404 shares during the quarter. Natixis Advisors LLC’s holdings in PPG Industries were worth $10,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of PPG. Tower Research Capital LLC TRC boosted its stake in PPG Industries by 49.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock valued at $4,239,000 after buying an additional 9,384 shares during the period. BDF Gestion bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $3,452,000. State Board of Administration of Florida Retirement System grew its holdings 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 purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 worth $4,159,074,000 after purchasing an additional 4,222,402 shares during the last quarter. Finally, Perpetual Ltd raised its stake in PPG Industries by 416.5% in the first quarter. Perpetual Ltd now owns 7,365 shares of the specialty chemicals company’s stock valued at $1,067,000 after purchasing an additional 5,939 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on PPG shares. Barclays cut their price target on shares of 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. UBS Group increased their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Royal Bank of Canada lowered their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Bank of America cut their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Performance

NYSE:PPG opened at $125.31 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a market cap of $29.39 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The business has a 50 day moving average price of $125.63 and a 200-day moving average price of $132.00.

PPG Industries (NYSE:PPG) last announced its quarterly 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 net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the prior year, the company posted $2.25 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

PPG Industries 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.