L & S Advisors Inc Acquires New Stake in PPG Industries, Inc. (NYSE:PPG)

L & S Advisors Inc acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,285 shares of the specialty chemicals company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strategic Blueprint LLC grew its position in PPG Industries by 8.8% in the second quarter. Strategic Blueprint LLC now owns 4,642 shares of the specialty chemicals company’s stock worth $788,000 after buying an additional 375 shares during the last quarter. Korea Investment CORP grew its position in PPG Industries by 42.3% in the second quarter. Korea Investment CORP now owns 80,000 shares of the specialty chemicals company’s stock worth $13,582,000 after buying an additional 23,800 shares during the last quarter. Commonwealth Equity Services LLC grew its position in PPG Industries by 3.4% in the second quarter. Commonwealth Equity Services LLC now owns 47,263 shares of the specialty chemicals company’s stock worth $8,023,000 after buying an additional 1,553 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in PPG Industries in the second quarter worth approximately $1,185,000. Finally, Great West Life Assurance Co. Can grew its position in PPG Industries by 37.8% in the second quarter. Great West Life Assurance Co. Can now owns 259,436 shares of the specialty chemicals company’s stock worth $44,023,000 after buying an additional 71,137 shares during the last quarter. Institutional investors and hedge funds own 78.88% of the company’s stock.

PPG Industries stock opened at $148.58 on Friday. The firm has a market cap of $35.27 billion, a price-to-earnings ratio of 23.29, a P/E/G ratio of 1.00 and a beta of 1.13. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.36 and a quick ratio of 0.95. PPG Industries, Inc. has a fifty-two week low of $118.03 and a fifty-two week high of $182.97. The firm has a fifty day moving average price of $159.28 and a two-hundred day moving average price of $164.41.

PPG Industries (NYSE:PPG) last released its earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($0.25). The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.32 billion. PPG Industries had a return on equity of 29.65% and a net margin of 9.71%. The firm’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were issued a dividend of $0.59 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Monday, August 9th. This represents a $2.36 annualized dividend and a dividend yield of 1.59%. PPG Industries’s payout ratio is presently 41.40%.

Several research firms have issued reports on PPG. BMO Capital Markets decreased their price target on shares of PPG Industries from $197.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 21st. Societe Generale lifted their price objective on shares of PPG Industries from $168.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PPG Industries from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, September 8th. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $183.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 8th. Finally, Susquehanna upgraded shares of PPG Industries from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $115.00 to $190.00 in a research report on Monday, July 26th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Buy” and a consensus price target of $173.58.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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