Northwestern Mutual Wealth Management Co. Has $1.14 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Northwestern Mutual Wealth Management Co. lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,727 shares of the specialty chemicals company’s stock after selling 201 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in PPG Industries were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPG. Capital International Investors grew its position in shares of PPG Industries by 3.9% in the first quarter. Capital International Investors now owns 4,584,432 shares of the specialty chemicals company’s stock valued at $688,857,000 after purchasing an additional 172,399 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PPG Industries by 2.6% in the first quarter. Geode Capital Management LLC now owns 3,940,046 shares of the specialty chemicals company’s stock valued at $590,435,000 after purchasing an additional 100,820 shares during the last quarter. FMR LLC grew its position in shares of PPG Industries by 91.3% in the second quarter. FMR LLC now owns 3,071,256 shares of the specialty chemicals company’s stock valued at $521,407,000 after purchasing an additional 1,466,193 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PPG Industries by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 2,437,009 shares of the specialty chemicals company’s stock valued at $366,184,000 after purchasing an additional 16,415 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of PPG Industries by 4.6% in the second quarter. Legal & General Group Plc now owns 2,094,564 shares of the specialty chemicals company’s stock valued at $355,594,000 after purchasing an additional 92,649 shares during the last quarter. 78.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PPG opened at $154.68 on Thursday. The company has a fifty day moving average of $155.36 and a 200-day moving average of $164.54. The company has a market capitalization of $36.71 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.95 and a current ratio of 1.36. PPG Industries, Inc. has a 52-week low of $123.52 and a 52-week high of $182.97.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.25). The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.32 billion. PPG Industries had a return on equity of 29.65% and a net margin of 9.71%. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities analysts forecast that PPG Industries, Inc. will post 7.19 EPS for the current fiscal year.

Several research firms have recently commented on PPG. Citigroup downgraded PPG Industries from a “buy” rating to a “neutral” rating and decreased their target price for the company from $181.00 to $163.00 in a research report on Thursday, September 9th. Susquehanna Bancshares upgraded PPG Industries from a “neutral” rating to a “positive” rating and set a $163.36 price target for the company in a research note on Monday, July 26th. Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research note on Tuesday, June 22nd. Societe Generale boosted their price target on PPG Industries from $168.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 1st. Finally, Barclays cut their price target on PPG Industries from $188.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 21st. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, PPG Industries has a consensus rating of “Buy” and an average price target of $175.69.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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