Bleakley Financial Group LLC Decreases Stock Position in PPG Industries, Inc. (NYSE:PPG)

Bleakley Financial Group LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,352 shares of the specialty chemicals company’s stock after selling 636 shares during the period. Bleakley Financial Group LLC’s holdings in PPG Industries were worth $576,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPG. Financial Connections Group Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $25,000. Riverview Trust Co purchased a new stake in PPG Industries in the first quarter worth approximately $34,000. Rothschild Investment LLC bought a new stake in PPG Industries in the 2nd quarter worth approximately $37,000. LRI Investments LLC lifted its holdings in shares of PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after buying an additional 320 shares during the period. Finally, Slocum Gordon & Co LLP boosted its stake in shares of PPG Industries by 51.7% in the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 155 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Down 1.6 %

Shares of PPG opened at $128.83 on Tuesday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The company has a 50 day simple moving average of $127.41 and a two-hundred day simple moving average of $128.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The firm has a market cap of $30.21 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

Wall Street Analyst Weigh In

A number of research firms recently commented on PPG. Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. UBS Group increased their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. KeyCorp reduced their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday. Finally, Bank of America decreased their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $150.14.

About PPG Industries

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.