PPG Industries, Inc. (NYSE:PPG) Shares Bought by Greenleaf Trust

Greenleaf Trust boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 33.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,787 shares of the specialty chemicals company’s stock after purchasing an additional 1,704 shares during the period. Greenleaf Trust’s holdings in PPG Industries were worth $899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after acquiring an additional 368,410 shares during the period. Federated Hermes Inc. raised its holdings in shares of PPG Industries by 91.0% during the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after acquiring an additional 249,406 shares during the period. SG Americas Securities LLC raised its holdings in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of PPG Industries during the first quarter valued at approximately $31,033,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG opened at $127.23 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm’s 50 day moving average price is $127.69 and its two-hundred day moving average price is $128.83. The firm has a market cap of $29.52 billion, a P/E ratio of 20.16, a PEG ratio of 1.94 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 for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $2.07 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that PPG Industries, Inc. will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays dropped their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. KeyCorp dropped their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Bank of America dropped their target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Citigroup lowered their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Company Profile

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.