First National Bank of Omaha maintained its position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,975 shares of the specialty chemicals company’s stock at the end of the second quarter. First National Bank of Omaha’s holdings in PPG Industries were worth $217,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cable Hill Partners LLC boosted its position in shares of PPG Industries by 8.5% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 77 shares during the last quarter. Baystate Wealth Management LLC boosted its position in shares of PPG Industries by 4.0% in the first quarter. Baystate Wealth Management LLC now owns 1,040 shares of the specialty chemicals company’s stock worth $109,000 after buying an additional 40 shares during the last quarter. V Wealth Management LLC bought a new position in shares of PPG Industries during the second quarter worth approximately $112,000. State of Alaska Department of Revenue bought a new position in shares of PPG Industries during the second quarter worth approximately $113,000. Finally, Coconut Grove Bank boosted its position in shares of PPG Industries by 103.6% in the first quarter. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company’s stock worth $124,000 after buying an additional 600 shares during the last quarter. Institutional investors own 71.54% of the company’s stock.
Shares of PPG Industries, Inc. (PPG) traded down 0.58% during mid-day trading on Friday, hitting $102.08. The stock had a trading volume of 1,778,770 shares. The firm has a 50 day moving average price of $107.13 and a 200-day moving average price of $106.21. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.67. The stock has a market cap of $26.18 billion, a P/E ratio of 26.86 and a beta of 1.54.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, meeting the consensus estimate of $1.83. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $1.73 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that PPG Industries, Inc. will post $6.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Thursday, August 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.76%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 8th. PPG Industries’s dividend payout ratio (DPR) is presently 46.88%.
A number of research analysts recently commented on the company. Deutsche Bank AG raised their price target on PPG Industries from $110.00 to $115.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. BidaskClub cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Argus upgraded PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.61 to $136.00 in a research report on Wednesday, July 5th. Bank of America Corporation cut PPG Industries from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 target price on shares of PPG Industries in a research report on Friday, May 26th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $114.50.
In related news, VP Glenn E. Bost II sold 19,812 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the transaction, the vice president now directly owns 52,748 shares in the company, valued at approximately $5,316,998.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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