Community Bank N.A. Boosts Position in PPG Industries, Inc. (NYSE:PPG)

Community Bank N.A. grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 6.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,467 shares of the specialty chemicals company’s stock after purchasing an additional 220 shares during the period. Community Bank N.A.’s holdings in PPG Industries were worth $367,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC lifted its holdings in shares of PPG Industries by 55.8% during the 1st quarter. Valeo Financial Advisors LLC now owns 483 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 173 shares in the last quarter. Aigen Investment Management LP purchased a new position in PPG Industries in the first quarter valued at about $54,000. Motco lifted its stake in shares of PPG Industries by 1,781.3% during the second quarter. Motco now owns 602 shares of the specialty chemicals company’s stock worth $64,000 after purchasing an additional 570 shares in the last quarter. Campbell Wealth Management acquired a new position in shares of PPG Industries during the second quarter worth about $66,000. Finally, NuWave Investment Management LLC boosted its position in shares of PPG Industries by 277.6% in the first quarter. NuWave Investment Management LLC now owns 861 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 633 shares during the period. 76.83% of the stock is owned by institutional investors.

Several equities research analysts recently commented on the company. Robert W. Baird raised their target price on PPG Industries from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 20th. Barclays boosted their target price on shares of PPG Industries from $106.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. BMO Capital Markets upped their target price on shares of PPG Industries from $125.00 to $137.00 and gave the company an “outperform” rating in a research note on Monday, July 20th. Cfra reaffirmed a “hold” rating and set a $99.00 price target (down previously from $114.00) on shares of PPG Industries in a research note on Tuesday, April 28th. Finally, Credit Suisse Group boosted their price objective on shares of PPG Industries from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. PPG Industries currently has a consensus rating of “Buy” and an average target price of $118.56.

PPG traded down $0.55 during trading hours on Friday, hitting $107.65. 1,293,617 shares of the stock were exchanged, compared to its average volume of 1,599,742. The stock has a market cap of $25.40 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 3.79 and a beta of 1.27. The stock has a 50-day simple moving average of $107.27 and a 200-day simple moving average of $104.11. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.35 and a quick ratio of 1.03. PPG Industries, Inc. has a 12 month low of $69.77 and a 12 month high of $134.36.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 16th. The specialty chemicals company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.29. PPG Industries had a net margin of 7.23% and a return on equity of 23.88%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same period in the prior year, the company earned $1.85 earnings per share. Sell-side analysts expect that PPG Industries, Inc. will post 4.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.16 dividend on an annualized basis and a yield of 2.01%. This is a boost from PPG Industries’s previous quarterly dividend of $0.51. PPG Industries’s dividend payout ratio (DPR) is currently 32.80%.

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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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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