Cetera Investment Advisers lowered its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 20.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 34,486 shares of the specialty chemicals company's stock after selling 8,685 shares during the quarter. Cetera Investment Advisers' holdings in PPG Industries were worth $4,119,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of PPG. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries in the 4th quarter worth approximately $36,000. Albion Financial Group UT purchased a new stake in PPG Industries in the 4th quarter worth approximately $38,000. Crews Bank & Trust purchased a new stake in PPG Industries in the 4th quarter worth approximately $42,000. Sugar Maple Asset Management LLC purchased a new stake in PPG Industries in the 4th quarter worth approximately $44,000. Finally, Millstone Evans Group LLC purchased a new stake in PPG Industries in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Seaport Res Ptn cut PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Citigroup decreased their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft increased their target price on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Argus lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Finally, Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $128.42.
Get Our Latest Report on PPG Industries
PPG Industries Stock Up 0.8%
PPG stock traded up $0.93 on Friday, reaching $113.99. 3,275,448 shares of the company traded hands, compared to its average volume of 1,822,373. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a market cap of $25.88 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The firm has a fifty day simple moving average of $106.44 and a 200-day simple moving average of $115.13.
PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the company earned $1.87 EPS. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.
PPG Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, May 12th. PPG Industries's payout ratio is 58.24%.
PPG Industries Profile
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Free Report)
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.
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