Tower Bridge Advisors Has $583,000 Position in PPG Industries, Inc. (NYSE:PPG)

Tower Bridge Advisors boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 63.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the specialty chemicals company’s stock after acquiring an additional 1,700 shares during the quarter. Tower Bridge Advisors’ holdings in PPG Industries were worth $583,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PPG. Dimensional Fund Advisors LP raised its stake in PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after buying an additional 279,455 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after buying an additional 249,406 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after buying an additional 216,675 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of PPG Industries by 3,039.8% in the first quarter. 1832 Asset Management L.P. now owns 201,415 shares of the specialty chemicals company’s stock valued at $29,185,000 after buying an additional 195,000 shares in 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 brokerages have recently weighed in on PPG. Mizuho lowered their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada lowered their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. KeyCorp lowered their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $122.53 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The stock has a market cap of $28.43 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.26. The stock’s 50-day moving average price is $127.37 and its two-hundred day moving average price is $127.78.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.