PPG Industries, Inc. (NYSE:PPG) Stake Reduced by Boston Trust Walden Corp

Boston Trust Walden Corp lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,730 shares of the specialty chemicals company’s stock after selling 390 shares during the quarter. Boston Trust Walden Corp’s holdings in PPG Industries were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PPG. Vanguard Group Inc. raised its holdings in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP raised its holdings in PPG Industries by 20.1% during the 2nd 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 during the period. International Assets Investment Management LLC raised its holdings in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock worth $56,538,000 after buying an additional 279,455 shares during the period. Federated Hermes Inc. raised its holdings in PPG Industries by 91.0% during the 2nd 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. Finally, SG Americas Securities LLC raised its holdings 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 worth $32,246,000 after buying an additional 216,675 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Down 0.6 %

Shares of PPG Industries stock opened at $126.45 on Monday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The stock has a market capitalization of $29.65 billion, a P/E ratio of 21.36, a PEG ratio of 1.94 and a beta of 1.26. The stock has a 50 day moving average price of $127.87 and a two-hundred day moving average price of $128.56. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. PPG Industries’s dividend payout ratio is 45.95%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research analyst reports. Citigroup lowered their target price 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. KeyCorp lowered their target price 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. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, UBS Group lifted their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.