Sei Investments Co. grew its position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 0.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 61,957 shares of the specialty chemicals company’s stock after buying an additional 309 shares during the quarter. Sei Investments Co.’s holdings in PPG Industries were worth $7,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. bought a new position in shares of PPG Industries in the second quarter worth $25,000. LifeSteps Financial Inc. bought a new position in shares of PPG Industries in the first quarter worth $29,000. YHB Investment Advisors Inc. bought a new position in shares of PPG Industries in the first quarter worth $29,000. Richardson Financial Services Inc. bought a new position in shares of PPG Industries in the fourth quarter worth $29,000. Finally, Riverview Trust Co bought a new position in shares of PPG Industries in the first quarter worth $34,000. Institutional investors own 81.86% of the company’s stock.
PPG Industries Stock Up 0.0 %
PPG stock opened at $134.56 on Monday. The stock’s fifty day simple moving average is $125.61 and its two-hundred day simple moving average is $130.35. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The stock has a market cap of $31.39 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.73 and a beta of 1.26.
PPG Industries Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is currently 45.95%.
Wall Street Analysts Forecast Growth
PPG has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price target 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. UBS Group raised their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Citigroup reduced their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets reduced their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Six 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, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $151.08.
Get Our Latest Research Report on PPG Industries
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.
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