River Global Investors LLP Purchases 403 Shares of PPG Industries, Inc. (NYSE:PPG)

River Global Investors LLP grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,297 shares of the specialty chemicals company’s stock after purchasing an additional 403 shares during the quarter. River Global Investors LLP’s holdings in PPG Industries were worth $1,364,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PPG. Norden Group LLC purchased a new stake in PPG Industries during the 1st quarter worth about $252,000. Envestnet Portfolio Solutions Inc. lifted its stake in PPG Industries by 3.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,714 shares of the specialty chemicals company’s stock worth $1,697,000 after purchasing an additional 436 shares in the last quarter. Empowered Funds LLC boosted its holdings in PPG Industries by 191.2% in the 1st quarter. Empowered Funds LLC now owns 8,558 shares of the specialty chemicals company’s stock valued at $1,240,000 after purchasing an additional 5,619 shares during the period. Sei Investments Co. grew its position in shares of PPG Industries by 10.2% during the 1st quarter. Sei Investments Co. now owns 61,648 shares of the specialty chemicals company’s stock valued at $8,930,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of PPG Industries by 4.2% in the first quarter. Meeder Advisory Services Inc. now owns 3,881 shares of the specialty chemicals company’s stock worth $562,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several recent analyst reports. Royal Bank of Canada reduced their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho dropped their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Citigroup decreased their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Finally, Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.93.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.55% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock traded down $0.46 during midday trading on Friday, reaching $125.52. 1,222,932 shares of the company traded hands, compared to its average volume of 1,593,536. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.92 and a beta of 1.26. The business has a 50 day moving average of $127.72 and a two-hundred day moving average of $128.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.07 earnings per share. As a group, research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.