PPG Industries, Inc. (NYSE:PPG) Position Lessened by SVB Wealth LLC

SVB Wealth LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 39,672 shares of the specialty chemicals company’s stock after selling 294 shares during the period. SVB Wealth LLC’s holdings in PPG Industries were worth $4,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PPG. Private Wealth Management Group LLC bought a new stake in shares of PPG Industries during the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new stake in PPG Industries in the 4th quarter valued at approximately $29,000. LifeSteps Financial Inc. bought a new stake in PPG Industries during the 1st quarter valued at $29,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries during the 1st quarter worth $29,000. Finally, Financial Connections Group Inc. bought a new position in shares of PPG Industries in the second quarter worth $25,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PPG. KeyCorp cut their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Citigroup dropped their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets decreased their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. UBS Group boosted their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Barclays decreased their price target 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Trading Down 0.4 %

Shares of NYSE PPG opened at $124.78 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. 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 $29.26 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.75 and a beta of 1.26. The business has a fifty day simple moving average of $125.61 and a 200-day simple moving average of $131.81.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping 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 company 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 posted $2.25 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Monday, August 12th will be paid a dividend of $0.68 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, August 12th. PPG Industries’s 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.