Greenleaf Trust Raises Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Greenleaf Trust boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 6,958 shares of the specialty chemicals company’s stock after acquiring an additional 171 shares during the period. Greenleaf Trust’s holdings in PPG Industries were worth $831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. PFW Advisors LLC purchased a new position in shares of PPG Industries in the 4th quarter worth about $868,000. Equity Investment Corp boosted its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after acquiring an additional 42,380 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of PPG Industries during the 3rd quarter valued at approximately $604,000. JGP Wealth Management LLC bought a new position in shares of PPG Industries during the 4th quarter valued at approximately $4,050,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PPG Industries by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after purchasing an additional 15,161 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Mizuho reduced their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Barclays dropped their price target on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Monday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $142.25.

PPG Industries Stock Performance

NYSE:PPG opened at $111.99 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $121.11 and its two-hundred day moving average price is $124.33. The stock has a market cap of $25.98 billion, a P/E ratio of 23.68, a PEG ratio of 1.99 and a beta of 1.24. PPG Industries, Inc. has a twelve month low of $110.20 and a twelve month high of $145.60.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. As a group, equities analysts predict that PPG Industries, Inc. will post 7.9 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is currently 57.51%.

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.