Wagner Bowman Management Corp maintained its position in PPG Industries Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,390 shares of the company’s stock at the end of the second quarter. Wagner Bowman Management Corp’s holdings in PPG Industries were worth $457,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PPG. Meeder Asset Management Inc. acquired a new position in PPG Industries during the first quarter valued at approximately $144,000. Invictus RG acquired a new position in PPG Industries during the first quarter valued at approximately $147,000. Nikko Asset Management Americas Inc. acquired a new position in PPG Industries during the first quarter valued at approximately $157,000. Massmutual Trust Co. FSB ADV raised its position in PPG Industries by 12.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the company’s stock valued at $158,000 after buying an additional 162 shares in the last quarter. Finally, Dubuque Bank & Trust Co. raised its position in PPG Industries by 34.5% in the first quarter. Dubuque Bank & Trust Co. now owns 1,713 shares of the company’s stock valued at $191,000 after buying an additional 439 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors.
Shares of PPG Industries Inc. (NYSE:PPG) traded up 0.18% on Tuesday, reaching $101.26. 1,317,944 shares of the company were exchanged. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 18.71 and a beta of 1.44. PPG Industries Inc. has a 52 week low of $82.93 and a 52 week high of $117.00. The company’s 50-day moving average is $104.35 and its 200-day moving average is $107.33.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts expect that PPG Industries Inc. will post $6.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio is currently 29.57%.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a report on Monday, August 29th. Credit Suisse Group AG reissued a “buy” rating on shares of PPG Industries in a report on Wednesday, June 15th. Jefferies Group reissued a “buy” rating on shares of PPG Industries in a report on Wednesday, July 6th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $120.00 price target on shares of PPG Industries in a report on Friday, June 17th. Finally, Longbow Research raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Thursday, June 23rd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $121.17.
In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total value of $4,366,908.00. Following the sale, the insider now owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Timothy M. Knavish sold 9,300 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the transaction, the vice president now owns 11,806 shares in the company, valued at $1,228,768.48. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by 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.
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