Gulf International Bank UK Ltd Sells 165 Shares of PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 0.4% in the second quarter, Holdings Channel reports. The fund owned 46,300 shares of the specialty chemicals company’s stock after selling 165 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $7,860,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PPG. BDO Wealth Advisors LLC lifted its holdings in shares of PPG Industries by 70.7% in the first quarter. BDO Wealth Advisors LLC now owns 227 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 94 shares during the last quarter. Blume Capital Management Inc. bought a new position in PPG Industries in the 1st quarter valued at approximately $38,000. Sandy Spring Bank raised its holdings in PPG Industries by 78.5% in the 2nd quarter. Sandy Spring Bank now owns 232 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 102 shares during the last quarter. Concord Wealth Partners bought a new position in PPG Industries in the 1st quarter valued at approximately $40,000. Finally, Logan Capital Management Inc. bought a new position in PPG Industries in the 1st quarter valued at approximately $46,000. 78.88% of the stock is owned by hedge funds and other institutional investors.

Shares of PPG stock opened at $150.33 on Wednesday. The company has a market cap of $35.68 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. PPG Industries, Inc. has a 52 week low of $116.95 and a 52 week high of $182.97. The company has a quick ratio of 0.95, a current ratio of 1.36 and a debt-to-equity ratio of 1.00. The firm has a 50 day moving average of $163.02 and a 200-day moving average of $164.37.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.25). PPG Industries had a net margin of 9.71% and a return on equity of 29.65%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same period in the previous year, the business posted $0.99 EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts anticipate that PPG Industries, Inc. will post 7.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Tuesday, August 10th were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, August 9th. This represents a $2.36 annualized dividend and a yield of 1.57%. This is an increase from PPG Industries’s previous quarterly dividend of $0.54. PPG Industries’s dividend payout ratio (DPR) is presently 41.40%.

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of PPG Industries from $188.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, July 21st. Zacks Investment Research lowered shares of PPG Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Tuesday, June 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, September 8th. Susquehanna Bancshares raised shares of PPG Industries from a “neutral” rating to a “positive” rating and set a $163.36 target price for the company in a research report on Monday, July 26th. Finally, Citigroup downgraded shares of PPG Industries from a “buy” rating to a “neutral” rating and decreased their target price for the company from $181.00 to $163.00 in a research report on Thursday, September 9th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $171.55.

PPG Industries 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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