Penserra Capital Management LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 393.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,550 shares of the specialty chemicals company’s stock after buying an additional 13,995 shares during the period. Penserra Capital Management LLC’s holdings in PPG Industries were worth $1,914,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at approximately $105,000. Fort L.P. purchased a new position in shares of PPG Industries during the second quarter valued at approximately $120,000. Investment Counselors of Maryland LLC purchased a new position in shares of PPG Industries during the third quarter valued at approximately $158,000. Qube Research & Technologies Ltd purchased a new position in shares of PPG Industries during the second quarter valued at approximately $167,000. Finally, CWM LLC increased its stake in shares of PPG Industries by 47.6% during the third quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock valued at $182,000 after buying an additional 539 shares during the period. 78.76% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PPG opened at $107.71 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71. PPG Industries, Inc. has a twelve month low of $94.37 and a twelve month high of $122.07. The company has a market cap of $26.27 billion, a P/E ratio of 18.47, a PEG ratio of 2.26 and a beta of 1.36.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. The company had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the previous year, the company posted $1.52 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Research analysts predict that PPG Industries, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 12th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 1.78%. PPG Industries’s dividend payout ratio is presently 32.71%.
PPG has been the topic of several research analyst reports. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. Credit Suisse Group set a $115.00 target price on PPG Industries and gave the company a “hold” rating in a research note on Monday, October 15th. Vertical Research cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Goldman Sachs Group raised PPG Industries from a “buy” rating to a “conviction-buy” rating in a research note on Monday, October 29th. Finally, ValuEngine cut PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. PPG Industries has a consensus rating of “Hold” and a consensus target price of $117.81.
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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