Bernicke Wealth Management Ltd. bought a new stake in PPG Industries (NYSE:PPG) in the 1st quarter, HoldingsChannel.com reports. The firm bought 5,428 shares of the specialty chemicals company’s stock, valued at approximately $606,000.
A number of other large investors have also recently modified their holdings of the stock. TIAA FSB lifted its position in PPG Industries by 6.2% during the fourth quarter. TIAA FSB now owns 30,031 shares of the specialty chemicals company’s stock worth $3,508,000 after acquiring an additional 1,744 shares during the last quarter. BlackRock Inc. lifted its position in PPG Industries by 1.2% during the fourth quarter. BlackRock Inc. now owns 14,943,714 shares of the specialty chemicals company’s stock worth $1,745,724,000 after acquiring an additional 175,593 shares during the last quarter. Hsbc Holdings PLC lifted its position in PPG Industries by 26.9% during the first quarter. Hsbc Holdings PLC now owns 442,000 shares of the specialty chemicals company’s stock worth $49,299,000 after acquiring an additional 93,774 shares during the last quarter. Koch Industries Inc. acquired a new stake in PPG Industries during the fourth quarter worth approximately $345,000. Finally, KCM Investment Advisors LLC acquired a new stake in PPG Industries during the fourth quarter worth approximately $200,000. Institutional investors and hedge funds own 75.86% of the company’s stock.
Several equities research analysts have issued reports on the stock. Royal Bank of Canada restated a “hold” rating on shares of PPG Industries in a research report on Tuesday, April 24th. Jefferies Group reaffirmed a “hold” rating on shares of PPG Industries in a report on Thursday. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Wednesday. Citigroup lowered their target price on shares of PPG Industries from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday, April 24th. Finally, ValuEngine cut shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. PPG Industries has an average rating of “Hold” and a consensus price target of $124.06.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, April 19th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.10). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.72 billion. PPG Industries had a net margin of 10.94% and a return on equity of 26.15%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $1.35 earnings per share. equities analysts predict that PPG Industries will post 6.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.78%. PPG Industries’s dividend payout ratio (DPR) is 30.66%.
About PPG Industries
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.
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries (NYSE:PPG).
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.