SG Americas Securities LLC Sells 30,709 Shares of PPG Industries, Inc. (PPG)
SG Americas Securities LLC cut its position in PPG Industries, Inc. (NYSE:PPG) by 39.6% during the first quarter, Holdings Channel reports. The institutional investor owned 46,773 shares of the specialty chemicals company’s stock after selling 30,709 shares during the period. SG Americas Securities LLC’s holdings in PPG Industries were worth $4,915,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. Cadence Capital Management LLC boosted its position in shares of PPG Industries by 0.3% in the fourth quarter. Cadence Capital Management LLC now owns 2,128 shares of the specialty chemicals company’s stock worth $202,000 after buying an additional 6 shares in the last quarter. Investment Partners Ltd. OH ADV raised its stake in shares of PPG Industries by 0.3% in the first quarter. Investment Partners Ltd. OH ADV now owns 2,478 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 8 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of PPG Industries by 0.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,799 shares of the specialty chemicals company’s stock worth $265,000 after buying an additional 9 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of PPG Industries by 0.3% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,820 shares of the specialty chemicals company’s stock worth $637,000 after buying an additional 15 shares during the last quarter. Finally, Linscomb & Williams Inc. raised its stake in shares of PPG Industries by 1.1% in the first quarter. Linscomb & Williams Inc. now owns 2,925 shares of the specialty chemicals company’s stock worth $307,000 after buying an additional 31 shares during the last quarter. 72.56% of the stock is currently owned by institutional investors.
PPG Industries, Inc. (PPG) opened at 111.16 on Friday. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.49. The stock has a market cap of $28.48 billion, a price-to-earnings ratio of 34.04 and a beta of 1.54. The stock’s 50 day moving average price is $108.43 and its 200-day moving average price is $102.92.
PPG Industries (NYSE:PPG) last released its earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. PPG Industries had a net margin of 5.79% and a return on equity of 30.40%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. Equities analysts expect that PPG Industries, Inc. will post $6.24 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.44%. PPG Industries’s dividend payout ratio is currently 48.93%.
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A number of brokerages have issued reports on PPG. Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a research note on Friday, May 26th. TheStreet upgraded PPG Industries from a “c+” rating to a “b+” rating in a research note on Monday, May 22nd. Barclays PLC increased their price target on PPG Industries from $110.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, April 24th. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up previously from $102.00) on shares of PPG Industries in a research note on Sunday, April 23rd. Finally, Citigroup Inc. reiterated a “market perform” rating on shares of PPG Industries in a research note on Friday, April 14th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Hold” and an average target price of $114.46.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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