Sienna Gestion Takes $8.71 Million Position in PPG Industries, Inc. (NYSE:PPG)

Sienna Gestion bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 69,179 shares of the specialty chemicals company’s stock, valued at approximately $8,705,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC raised its holdings in PPG Industries by 38.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 76 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares during the period. Gryphon Financial Partners LLC lifted its holdings in PPG Industries by 1.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after buying an additional 81 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in shares of PPG Industries by 4.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock worth $292,000 after acquiring an additional 82 shares during the period. Finally, Applied Capital LLC FL raised its position in shares of PPG Industries by 1.3% in the 1st quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $127.46 on Thursday. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock has a fifty day simple moving average of $125.80 and a two-hundred day simple moving average of $130.95. 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 firm has a market cap of $29.89 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.69 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $2.25 EPS. Equities analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.13%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Analyst Ratings Changes

Several research firms recently weighed in on PPG. Bank of America dropped their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets lowered their price target on shares of 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 cut 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 report on Monday, July 22nd. Finally, Citigroup lowered their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.08.

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.