SPF Beheer BV boosted its position in PPG Industries, Inc. (NYSE:PPG) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 724,493 shares of the specialty chemicals company’s stock after acquiring an additional 74,606 shares during the quarter. PPG Industries accounts for 3.4% of SPF Beheer BV’s investment portfolio, making the stock its 11th biggest position. SPF Beheer BV owned 0.29% of PPG Industries worth $80,853,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. TLP Group LLC boosted its holdings in PPG Industries by 973.5% in the first quarter. TLP Group LLC now owns 1,825 shares of the specialty chemicals company’s stock valued at $204,000 after acquiring an additional 1,655 shares during the last quarter. Hilltop Holdings Inc. acquired a new position in PPG Industries in the first quarter valued at $291,000. Cubist Systematic Strategies LLC acquired a new position in shares of PPG Industries during the first quarter worth about $560,000. Aristotle Capital Management LLC lifted its stake in shares of PPG Industries by 6.5% during the first quarter. Aristotle Capital Management LLC now owns 3,401,374 shares of the specialty chemicals company’s stock worth $379,593,000 after purchasing an additional 208,087 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of PPG Industries by 12.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 400,673 shares of the specialty chemicals company’s stock worth $44,715,000 after purchasing an additional 42,832 shares in the last quarter. Hedge funds and other institutional investors own 75.96% of the company’s stock.
PPG Industries opened at $103.73 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.66. PPG Industries, Inc. has a one year low of $100.36 and a one year high of $122.07. The stock has a market capitalization of $26.42 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.53.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by ($0.10). PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. equities research analysts predict that PPG Industries, Inc. will post 6.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Thursday, May 10th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 30.66%.
PPG has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating in a research note on Wednesday, April 25th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Credit Suisse Group reduced their price objective on PPG Industries from $124.00 to $122.00 and set an “outperform” rating on the stock in a research note on Friday, April 20th. Citigroup reduced their price objective on PPG Industries from $125.00 to $123.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 24th. Finally, Deutsche Bank upgraded PPG Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $126.00 to $130.00 in a research note on Tuesday, March 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $123.65.
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.
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.