Boston Partners decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 50.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 521,974 shares of the specialty chemicals company’s stock after selling 525,472 shares during the period. Boston Partners’ holdings in PPG Industries were worth $60,977,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PPG. CIBC World Markets Inc. raised its position in PPG Industries by 29.3% during the fourth quarter. CIBC World Markets Inc. now owns 16,427 shares of the specialty chemicals company’s stock valued at $1,919,000 after purchasing an additional 3,726 shares in the last quarter. Boys Arnold & Co. Inc. purchased a new stake in PPG Industries during the fourth quarter valued at about $282,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in PPG Industries by 2.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,853 shares of the specialty chemicals company’s stock valued at $7,927,000 after purchasing an additional 1,676 shares in the last quarter. Mutual of America Capital Management LLC raised its position in PPG Industries by 1.5% during the fourth quarter. Mutual of America Capital Management LLC now owns 32,370 shares of the specialty chemicals company’s stock valued at $3,781,000 after purchasing an additional 470 shares in the last quarter. Finally, Fiduciary Trust Co. raised its position in PPG Industries by 4.4% during the fourth quarter. Fiduciary Trust Co. now owns 51,108 shares of the specialty chemicals company’s stock valued at $5,970,000 after purchasing an additional 2,159 shares in the last quarter. 75.21% of the stock is owned by institutional investors.
PPG has been the topic of a number of research reports. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Royal Bank of Canada restated a “hold” rating and set a $115.00 price target on shares of PPG Industries in a research report on Wednesday, January 17th. Credit Suisse Group set a $119.00 price target on PPG Industries and gave the company a “buy” rating in a research report on Friday, October 20th. Raymond James Financial initiated coverage on PPG Industries in a research report on Tuesday, December 19th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Citigroup raised their price target on PPG Industries from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PPG Industries has a consensus rating of “Hold” and a consensus price target of $123.35.
PPG Industries, Inc. (NYSE PPG) opened at $111.98 on Tuesday. The company has a market capitalization of $28,500.00, a PE ratio of 20.55, a PEG ratio of 2.02 and a beta of 1.59. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries, Inc. has a twelve month low of $99.55 and a twelve month high of $122.07.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.61 billion. PPG Industries had a return on equity of 26.76% and a net margin of 10.98%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. research analysts expect that PPG Industries, Inc. will post 6.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $0.45 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.61%. PPG Industries’s dividend payout ratio is currently 33.03%.
PPG Industries declared that its board has approved a stock buyback program on Thursday, December 14th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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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