PPG Industries, Inc. (NYSE:PPG) Shares Sold by Gries Financial LLC

Gries Financial LLC trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 34.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,817 shares of the specialty chemicals company’s stock after selling 943 shares during the period. Gries Financial LLC’s holdings in PPG Industries were worth $229,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC boosted its holdings in shares of PPG Industries by 9.9% during the 2nd quarter. Larson Financial Group LLC now owns 2,319 shares of the specialty chemicals company’s stock worth $292,000 after purchasing an additional 209 shares during the last quarter. Founders Financial Securities LLC boosted its holdings in shares of PPG Industries by 5.6% during the 2nd quarter. Founders Financial Securities LLC now owns 7,993 shares of the specialty chemicals company’s stock worth $1,006,000 after purchasing an additional 427 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of PPG Industries by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after purchasing an additional 82 shares during the last quarter. Legacy Capital Wealth Partners LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth approximately $537,000. Finally, Allegheny Financial Group LTD boosted its holdings in shares of PPG Industries by 8.2% during the 2nd quarter. Allegheny Financial Group LTD now owns 69,490 shares of the specialty chemicals company’s stock worth $8,748,000 after purchasing an additional 5,282 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. UBS Group upped their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Royal Bank of Canada decreased their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays cut their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $126.67 on Thursday. The firm’s fifty day simple moving average is $125.62 and its 200-day simple moving average is $132.04. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 earnings per share. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 12th will be issued a dividend of $0.68 per share. The ex-dividend date is Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

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.