Calamos Advisors LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 9.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 77,706 shares of the specialty chemicals company’s stock after purchasing an additional 6,749 shares during the period. Calamos Advisors LLC’s holdings in PPG Industries were worth $9,209,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in PPG Industries during the 2nd quarter valued at about $25,000. American National Bank purchased a new position in PPG Industries during the 2nd quarter valued at about $25,000. Coastal Investment Advisors Inc. increased its position in PPG Industries by 280.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 228 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 168 shares during the period. Westside Investment Management Inc. purchased a new position in PPG Industries during the 2nd quarter valued at about $29,000. Finally, Atwater Malick LLC purchased a new position in PPG Industries during the 3rd quarter valued at about $42,000. 77.35% of the stock is currently owned by institutional investors and hedge funds.
PPG has been the topic of a number of research reports. Societe Generale initiated coverage on shares of PPG Industries in a research report on Tuesday, July 9th. They set a “buy” rating and a $138.00 target price on the stock. Bank of America downgraded shares of PPG Industries from a “neutral” rating to an “underperform” rating and cut their target price for the company from $135.00 to $103.00 in a research report on Friday, August 16th. SunTrust Banks reaffirmed a “hold” rating and issued a $123.00 price objective on shares of PPG Industries in a research report on Friday, July 19th. They noted that the move was a valuation call. Barclays lifted their price objective on shares of PPG Industries from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their price objective on shares of PPG Industries from $113.00 to $129.00 and gave the stock a “market perform” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. PPG Industries presently has an average rating of “Hold” and an average target price of $127.00.
Shares of PPG Industries stock opened at $125.27 on Wednesday. The firm’s 50 day moving average price is $117.68 and its 200-day moving average price is $115.05. The company has a quick ratio of 1.08, a current ratio of 1.49 and a debt-to-equity ratio of 1.04. PPG Industries, Inc. has a 52-week low of $94.41 and a 52-week high of $125.63. The company has a market cap of $29.35 billion, a P/E ratio of 21.16, a PEG ratio of 2.25 and a beta of 1.23.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.06. PPG Industries had a net margin of 8.00% and a return on equity of 28.90%. The firm had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the previous year, the firm earned $1.45 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts forecast that PPG Industries, Inc. will post 6.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, November 8th. PPG Industries’s dividend payout ratio is presently 34.46%.
PPG Industries 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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