Manning & Napier Advisors LLC Has $8.54 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Manning & Napier Advisors LLC cut its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,064 shares of the specialty chemicals company's stock after selling 3,779 shares during the quarter. Manning & Napier Advisors LLC's holdings in PPG Industries were worth $8,536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC raised its position in shares of PPG Industries by 25.3% in the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after buying an additional 92 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 101 shares in the last quarter. Snowden Capital Advisors LLC raised its position in shares of PPG Industries by 3.7% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,147 shares of the specialty chemicals company's stock valued at $376,000 after buying an additional 113 shares in the last quarter. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares in the last quarter. Finally, Warther Private Wealth LLC raised its position in shares of PPG Industries by 3.8% in the 1st quarter. Warther Private Wealth LLC now owns 3,090 shares of the specialty chemicals company's stock valued at $338,000 after buying an additional 114 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.4%

Shares of NYSE PPG opened at $108.71 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm has a 50 day moving average price of $108.57 and a two-hundred day moving average price of $112.75. The stock has a market cap of $24.68 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same period in the prior year, the company posted $1.87 EPS. The company's revenue was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, May 12th. PPG Industries's dividend payout ratio (DPR) is currently 58.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPG. Argus cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Bank of America restated a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Royal Bank Of Canada upped their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. UBS Group upped their price objective on shares of PPG Industries from $110.00 to $111.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Nine equities research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $129.83.

PPG Industries Profile

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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