Profund Advisors LLC Sells 346 Shares of PPG Industries, Inc. (NYSE:PPG)

Profund Advisors LLC reduced its position in PPG Industries, Inc. (NYSE:PPG) by 5.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,773 shares of the specialty chemicals company’s stock after selling 346 shares during the period. Profund Advisors LLC’s holdings in PPG Industries were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PPG. Vanguard Group Inc. raised its holdings in shares of PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares in the last quarter. Federated Hermes Inc. lifted its holdings in PPG Industries by 91.0% during the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after buying an additional 249,406 shares during the period. SG Americas Securities LLC boosted its position in PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of PPG Industries in the 1st quarter valued at $31,033,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent research reports. Barclays dropped their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. 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 report on Monday, July 22nd. Bank of America decreased their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” 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, UBS Group increased their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Up 0.8 %

PPG Industries stock opened at $128.34 on Wednesday. The business’s 50-day simple moving average is $125.54 and its two-hundred day simple moving average is $130.55. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The company has a market cap of $30.10 billion, a PE ratio of 21.68, a PEG ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. PPG Industries’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a dividend of $0.68 per share. The ex-dividend date was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. PPG Industries’s payout ratio is currently 45.95%.

About PPG Industries

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.