Procyon Advisors LLC Reduces Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Procyon Advisors LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 14.9% in the 3rd quarter, Holdings Channel reports. The firm owned 18,883 shares of the specialty chemicals company’s stock after selling 3,308 shares during the period. Procyon Advisors LLC’s holdings in PPG Industries were worth $2,501,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vest Financial LLC boosted its position in PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion bought a new stake in PPG Industries during the 2nd quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System boosted its position in PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after acquiring an additional 22,079 shares in the last quarter. Vanguard Group Inc. boosted its position in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Finally, Perpetual Ltd boosted its position in PPG Industries by 416.5% during the 1st quarter. Perpetual Ltd now owns 7,365 shares of the specialty chemicals company’s stock valued at $1,067,000 after acquiring an additional 5,939 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of a number of analyst reports. KeyCorp dropped their price target 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. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group boosted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Finally, Barclays lowered their price objective 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Trading Up 0.2 %

Shares of PPG Industries stock opened at $128.50 on Tuesday. The business has a 50-day moving average price of $126.27 and a 200-day moving average price of $129.36. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The firm has a market cap of $30.13 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.72 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 23.57% and a net margin of 7.98%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 8.24 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. PPG Industries’s payout ratio is 45.95%.

PPG Industries Profile

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.