King Luther Capital Management Corp trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 26.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,500 shares of the specialty chemicals company’s stock after selling 918 shares during the period. King Luther Capital Management Corp’s holdings in PPG Industries were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Oregon Public Employees Retirement Fund boosted its stake in shares of PPG Industries by 10,003.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,810,405 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 2,782,589 shares in the last quarter. Paragon Capital Management LLC acquired a new stake in PPG Industries in the 1st quarter valued at approximately $29,000. Capital Financial Planning LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $31,000. Zions Bancorporation N.A. acquired a new stake in PPG Industries in the 1st quarter valued at approximately $34,000. Finally, Berman Capital Advisors LLC boosted its position in PPG Industries by 49.5% in the 1st quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 107 shares during the period. 78.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP William E. Schaupp sold 2,500 shares of PPG Industries stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the transaction, the vice president now owns 4,389 shares of the company’s stock, valued at $469,096.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Victoria F. Haynes sold 674 shares of PPG Industries stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.
Shares of PPG stock traded up $1.92 during trading hours on Monday, reaching $118.63. The stock had a trading volume of 750,500 shares, compared to its average volume of 1,283,671. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $121.29. The company’s 50-day simple moving average is $112.43. The company has a market cap of $27.56 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.06 and a beta of 1.24.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.17. The business had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 EPS. Analysts predict that PPG Industries, Inc. will post 6.29 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 10th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, May 9th. PPG Industries’s payout ratio is presently 32.43%.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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