Insigneo Advisory Services LLC Trims Stock Position in PPG Industries, Inc. (NYSE:PPG)

Insigneo Advisory Services LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,719 shares of the specialty chemicals company’s stock after selling 105 shares during the period. Insigneo Advisory Services LLC’s holdings in PPG Industries were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPG. Vanguard Group Inc. increased its stake in PPG Industries by 17.2% in the first 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 during the period. Dimensional Fund Advisors LP increased its stake in shares of PPG Industries by 20.1% during 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 acquiring an additional 368,410 shares during the period. Federated Hermes Inc. increased its stake in shares of 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 acquiring an additional 249,406 shares during the period. SG Americas Securities LLC increased its stake in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after acquiring an additional 216,675 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of PPG Industries during the first quarter worth about $31,033,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Bank of America dropped their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” 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 note on Monday, July 22nd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Finally, UBS Group boosted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Trading Down 0.0 %

Shares of PPG opened at $134.51 on Friday. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm has a market capitalization of $31.54 billion, a P/E ratio of 22.72, a PEG ratio of 1.71 and a beta of 1.26. 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’s 50-day moving average is $125.48 and its two-hundred day moving average is $130.56.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.02%. 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. PPG Industries’s dividend payout ratio is 45.95%.

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.