Blue Rock Advisors LLC Invests $1.19 Million in PPG Industries, Inc. (PPG) Stock
Blue Rock Advisors LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,858 shares of the specialty chemicals company’s stock, valued at approximately $1,194,000. PPG Industries makes up about 1.8% of Blue Rock Advisors LLC’s investment portfolio, making the stock its 22nd biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in PPG Industries by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 19,441,146 shares of the specialty chemicals company’s stock worth $2,042,875,000 after purchasing an additional 541,039 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PPG Industries by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 18,544,989 shares of the specialty chemicals company’s stock worth $1,948,708,000 after purchasing an additional 216,278 shares in the last quarter. BlackRock Inc. grew its stake in PPG Industries by 2,006.8% during the 1st quarter. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company’s stock worth $1,533,684,000 after purchasing an additional 13,902,595 shares in the last quarter. Clearbridge Investments LLC grew its stake in PPG Industries by 4.7% during the 1st quarter. Clearbridge Investments LLC now owns 4,991,865 shares of the specialty chemicals company’s stock worth $524,545,000 after purchasing an additional 222,376 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in PPG Industries by 639.5% during the 1st quarter. Lazard Asset Management LLC now owns 4,213,143 shares of the specialty chemicals company’s stock worth $442,716,000 after purchasing an additional 3,643,443 shares in the last quarter. 74.17% of the stock is owned by hedge funds and other institutional investors.
In other PPG Industries news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the transaction, the vice president now owns 52,748 shares of the company’s stock, valued at $5,316,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now directly owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.
PPG Industries, Inc. (NYSE:PPG) traded up 0.26% during mid-day trading on Monday, hitting $104.59. The stock had a trading volume of 997,596 shares. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $113.67. The company has a 50-day moving average of $105.27 and a 200-day moving average of $106.46. The firm has a market cap of $26.83 billion, a PE ratio of 27.52 and a beta of 1.55.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.83. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. Analysts expect that PPG Industries, Inc. will post $6.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. This is an increase from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is 46.88%.
PPG has been the subject of several analyst reports. Bank of America Corporation cut PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price for the company. in a research note on Monday, July 24th. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Deutsche Bank AG boosted their target price on PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research note on Friday, July 21st. Finally, BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $115.19.
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PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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