Fiera Capital Corp Sells 7,386 Shares of PPG Industries, Inc. (PPG)
Fiera Capital Corp lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 27.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,213 shares of the specialty chemicals company’s stock after selling 7,386 shares during the quarter. Fiera Capital Corp’s holdings in PPG Industries were worth $2,113,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in PPG. V Wealth Management LLC acquired a new position in PPG Industries during the second quarter worth approximately $112,000. State of Alaska Department of Revenue acquired a new position in PPG Industries during the second quarter worth approximately $113,000. First Interstate Bank increased its position in PPG Industries by 3.1% during the second quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after buying an additional 35 shares during the last quarter. Global X Management Co. LLC increased its position in PPG Industries by 26.7% during the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 249 shares during the last quarter. Finally, Robecosam AG increased its position in PPG Industries by 66.7% during the first quarter. Robecosam AG now owns 1,500 shares of the specialty chemicals company’s stock worth $158,000 after buying an additional 600 shares during the last quarter. 73.92% of the stock is currently owned by institutional investors and hedge funds.
PPG Industries, Inc. (NYSE:PPG) opened at 106.80 on Tuesday. PPG Industries, Inc. has a 52-week low of $89.64 and a 52-week high of $113.67. The stock has a 50 day moving average price of $104.15 and a 200 day moving average price of $106.72. The firm has a market cap of $27.39 billion, a P/E ratio of 28.10 and a beta of 1.55.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.83. PPG Industries had a net margin of 6.79% and a return on equity of 29.47%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $1.73 EPS. PPG Industries’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts predict that PPG Industries, Inc. will post $6.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th were paid a dividend of $0.45 per share. The ex-dividend date was Tuesday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.69%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
In other news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the completion of the sale, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
A number of equities analysts have weighed in on the company. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target on shares of PPG Industries in a research report on Friday. Royal Bank Of Canada reissued a “hold” rating and set a $109.00 price target on shares of PPG Industries in a research report on Wednesday, September 13th. Robert W. Baird reissued a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research report on Friday, September 1st. KeyCorp reissued a “buy” rating and set a $125.00 price target on shares of PPG Industries in a research report on Friday, August 25th. Finally, Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $115.19.
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PPG Industries 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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