Metropolitan Life Insurance Co NY increased its position in shares of PPG Industries, Inc. (NYSE: PPG – Get Rating) by 6.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,777 shares of the specialty chemicals company stock after buying an additional 1,883 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in PPG Industries were worth $ 5,480,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stifel Financial Corp raised its stake in shares of PPG Industries by 6.1% in the 4th quarter. Stifel Financial Corp now owns 197,848 shares of the specialty chemicals company stock valued at $ 34,121,000 after buying an additional 11,295 shares in the last quarter. Stock Yards Bank & Trust Co. increased its position in shares of PPG Industries by 441.6% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 14,803 shares of the specialty chemicals company stock worth $ 2,553,000 after purchasing an additional 12,070 shares in the last quarter. Fort Point Capital Partners LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth about $ 207,000. Stratos Wealth Partners LTD. increased its position in shares of PPG Industries by 14.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,092 shares of the specialty chemicals company stock worth $ 878,000 after purchasing an additional 629 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in PPG Industries by 3.8% during the 4th quarter. Wetherby Asset Management Inc. now owns 4,803 shares of the specialty chemicals company stock worth $ 828,000 after acquiring an additional 174 shares during the last quarter. 79.12% of the stock is owned by institutional investors and hedge funds.
PPG Industries stock opened at $ 115.90 on Monday. The company 50 day simple moving average is $ 127.70 and its 200 day simple moving average is $ 142.58. PPG Industries, Inc. has a fifty-two week low of $ 111.32 and a fifty-two week high of $ 178.92. The firm has a market capitalization of $ 27.37 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 1.35 and a beta of 1.15. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.47 and a quick ratio of 1.00.
PPG Industries (NYSE: PPG – Get Rating) last announced its earnings results on Thursday, April 21st. The specialty chemicals company reported $ 1.37 EPS for the quarter, topping the estimate consensus of $ 1.12 by $ 0.25. The firm had revenue of $ 4.31 billion for the quarter, compared to the estimate consensus of $ 4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $ 1.88 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th were issued a dividend of $ 0.59 per share. The ex-dividend date of this dividend was Monday, May 9th. This represents a $ 2.36 annualized dividend and a yield of 2.04%. PPG Industries’s dividend payout ratio (DPR) is currently 52.33%.
In other PPG Industries news, EVP Rebecca B. Liebert sold 30,086 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The shares were sold at an average price of $ 129.90, for a total transaction of $ 3,908,171.40. Following the sale, the executive vice president now directly owns 24,693 shares in the company, valued at approximately $ 3,207,620.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company stock.
PPG has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of PPG Industries from $ 200.00 to $ 180.00 in a report on Monday, April 25th. Credit Suisse Group initiated coverage on shares of PPG Industries in a report on Tuesday, May 31st. They set an “underperform” rating and a $ 115.00 price objective on the stock. StockNews.com initiated coverage on shares of PPG Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group decreased their price objective on shares of PPG Industries from $ 170.00 to $ 130.00 and set a “hold” rating on the stock in a report on Wednesday, March 9th. Finally, Morgan Stanley decreased their price objective on shares of PPG Industries from $ 175.00 to $ 150.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $ 164.49.
PPG Industries Profile: (Get Rating)
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company 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; 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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