Amalgamated Bank Decreases Position in PPG Industries, Inc. (NYSE:PPG)

Amalgamated Bank reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,482 shares of the specialty chemicals company’s stock after selling 1,726 shares during the quarter. Amalgamated Bank’s holdings in PPG Industries were worth $5,978,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Richardson Financial Services Inc. acquired a new stake in PPG Industries in the fourth quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in PPG Industries during the 1st quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new stake in PPG Industries during the 1st quarter worth $29,000. Financial Connections Group Inc. acquired a new position in PPG Industries in the 2nd quarter worth $25,000. Finally, Riverview Trust Co purchased a new position in PPG Industries in the 1st quarter valued at about $34,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 2.1 %

NYSE:PPG opened at $126.50 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 stock has a 50 day moving average of $125.71 and a 200-day moving average of $130.85. The firm has a market capitalization of $29.51 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm 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%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.25 EPS. Analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a $0.68 dividend. The ex-dividend date of this dividend was 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 yield of 2.15%. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PPG. KeyCorp dropped their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada cut their target price 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. BMO Capital Markets decreased 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. Citigroup cut their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

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.