PPG Industries, Inc. (NYSE:PPG) Stake Boosted by Barclays PLC

Barclays PLC increased its stake in PPG Industries, Inc. (NYSE:PPG) by 21.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,142,045 shares of the specialty chemicals company’s stock after acquiring an additional 198,353 shares during the period. Barclays PLC’s holdings in PPG Industries were worth $151,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries during the second quarter valued at $25,000. Pin Oak Investment Advisors Inc. lifted its position in PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in PPG Industries during the 3rd quarter valued at about $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the 2nd quarter worth about $37,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 1.1 %

PPG Industries stock opened at $125.42 on Wednesday. The firm has a market cap of $29.10 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.92 and a beta of 1.24. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm’s 50 day moving average price is $126.09 and its two-hundred day moving average price is $126.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. On average, research analysts predict that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Mizuho decreased their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

About PPG Industries

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.