PPG Industries, Inc. (PPG) Stake Increased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 82,414 shares of the specialty chemicals company’s stock after buying an additional 1,078 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $8,993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $105,000. Fort L.P. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $120,000. Qube Research & Technologies Ltd purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $167,000. CWM LLC boosted its holdings in shares of PPG Industries by 47.6% during the 3rd quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 539 shares during the last quarter. Finally, Bennicas & Associates Inc. purchased a new stake in shares of PPG Industries during the 3rd quarter valued at about $205,000. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

PPG opened at $108.67 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $25.75 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 2.22 and a beta of 1.36. PPG Industries, Inc. has a 12-month low of $94.37 and a 12-month high of $122.07.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share for the quarter, meeting the consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, equities research analysts predict that PPG Industries, Inc. will post 5.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 12th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 8th. PPG Industries’s dividend payout ratio is currently 32.71%.

A number of analysts have recently issued reports on PPG shares. ValuEngine raised shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Credit Suisse Group dropped their price objective on shares of PPG Industries from $122.00 to $119.00 and set an “outperform” rating on the stock in a report on Friday, July 20th. SunTrust Banks reissued a “hold” rating and issued a $110.00 price objective on shares of PPG Industries in a report on Friday, July 20th. KeyCorp dropped their price objective on shares of PPG Industries from $130.00 to $128.00 and set a “$104.41” rating on the stock in a report on Monday, July 23rd. Finally, Goldman Sachs Group raised shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 price objective on the stock in a report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $117.81.

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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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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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