Genesee Valley Trust Co. raised its position in PPG Industries Inc. (NYSE:PPG) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,389 shares of the company’s stock after buying an additional 264 shares during the period. Genesee Valley Trust Co.’s holdings in PPG Industries were worth $1,186,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sanders Morris Harris Inc. acquired a new position in shares of PPG Industries during the first quarter worth $335,000. River Wealth Advisors LLC raised its position in shares of PPG Industries by 1.4% in the first quarter. River Wealth Advisors LLC now owns 7,073 shares of the company’s stock worth $789,000 after buying an additional 101 shares in the last quarter. Commonwealth Equity Services Inc raised its position in shares of PPG Industries by 5.0% in the first quarter. Commonwealth Equity Services Inc now owns 69,561 shares of the company’s stock worth $7,755,000 after buying an additional 3,338 shares in the last quarter. Aperio Group LLC raised its position in shares of PPG Industries by 8.7% in the first quarter. Aperio Group LLC now owns 124,027 shares of the company’s stock worth $13,828,000 after buying an additional 9,961 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. acquired a new position in shares of PPG Industries during the first quarter worth $656,000. 73.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPG Industries Inc. (NYSE:PPG) traded up 0.66% during mid-day trading on Thursday, hitting $103.14. The stock had a trading volume of 1,149,767 shares. PPG Industries Inc. has a 12-month low of $82.93 and a 12-month high of $117.00. The company has a 50 day moving average price of $104.28 and a 200 day moving average price of $107.26. The firm has a market cap of $27.46 billion, a P/E ratio of 19.06 and a beta of 1.44.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.85. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.17 billion. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.67 EPS. Equities analysts forecast that PPG Industries Inc. will post $6.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 10th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio (DPR) is 29.57%.
PPG has been the topic of a number of recent analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating on shares of PPG Industries in a report on Wednesday, June 15th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $120.00 price objective on shares of PPG Industries in a report on Friday, June 17th. Morgan Stanley reaffirmed a “hold” rating on shares of PPG Industries in a report on Thursday, June 16th. Longbow Research raised PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, June 23rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of PPG Industries in a report on Wednesday, July 6th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $121.17.
In related news, VP Timothy M. Knavish sold 9,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total value of $967,944.00. Following the sale, the vice president now owns 11,806 shares of the company’s stock, valued at approximately $1,228,768.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the completion of the sale, the insider now directly owns 69,044 shares in the company, valued at approximately $7,362,852.16. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
About PPG Industries
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries Inc. (NYSE:PPG).
Receive News & Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.