Bronfman E.L. Rothschild L.P. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,326 shares of the specialty chemicals company’s stock after selling 176 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in PPG Industries were worth $340,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PPG. Brandywine Global Investment Management LLC increased its stake in PPG Industries by 3.4% in the 4th quarter. Brandywine Global Investment Management LLC now owns 290,426 shares of the specialty chemicals company’s stock worth $29,691,000 after purchasing an additional 9,666 shares in the last quarter. L & S Advisors Inc acquired a new stake in PPG Industries during the 4th quarter worth about $268,000. Mackay Shields LLC boosted its position in PPG Industries by 3.9% during the 4th quarter. Mackay Shields LLC now owns 52,730 shares of the specialty chemicals company’s stock worth $5,391,000 after acquiring an additional 1,975 shares during the period. Mosaic Family Wealth LLC boosted its position in PPG Industries by 18.7% during the 4th quarter. Mosaic Family Wealth LLC now owns 1,369 shares of the specialty chemicals company’s stock worth $140,000 after acquiring an additional 216 shares during the period. Finally, LMR Partners LLP acquired a new stake in PPG Industries during the 4th quarter worth about $775,000. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on PPG shares. Citigroup upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Thursday, November 29th. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $105.00 to $106.00 in a research report on Friday, January 18th. SunTrust Banks raised their price objective on PPG Industries to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, January 22nd. Zacks Investment Research lowered PPG Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Finally, Credit Suisse Group decreased their price objective on PPG Industries to $112.00 and set a “neutral” rating for the company in a research report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $116.88.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.05. The business had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.65 billion. PPG Industries had a return on equity of 28.47% and a net margin of 8.84%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. Equities analysts expect that PPG Industries, Inc. will post 6.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 22nd were issued a dividend of $0.48 per share. The ex-dividend date was Thursday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 1.73%. PPG Industries’s dividend payout ratio is 32.43%.
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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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