PPG Industries, Inc. (NYSE:PPG) Stock Holdings Cut by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,691 shares of the specialty chemicals company’s stock after selling 1,420 shares during the quarter. State of Alaska Department of Revenue’s holdings in PPG Industries were worth $3,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Norden Group LLC bought a new position in PPG Industries during the 1st quarter valued at $252,000. Private Advisor Group LLC lifted its position in shares of PPG Industries by 4.0% during the 1st quarter. Private Advisor Group LLC now owns 10,463 shares of the specialty chemicals company’s stock valued at $1,516,000 after acquiring an additional 407 shares during the last quarter. Tanager Wealth Management LLP acquired a new stake in shares of PPG Industries during the 1st quarter valued at $315,000. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of PPG Industries by 34.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,772 shares of the specialty chemicals company’s stock valued at $1,996,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of PPG Industries during the 1st quarter valued at $132,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $125.65 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The business has a fifty day simple moving average of $128.04 and a 200 day simple moving average of $128.42. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.93 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the business posted $2.07 earnings per share. PPG Industries’s revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. KeyCorp cut their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Barclays cut their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Citigroup cut their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, UBS Group increased their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $149.93.

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.