Stonegate Investment Group LLC Has $426,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Stonegate Investment Group LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,213 shares of the specialty chemicals company’s stock after selling 423 shares during the period. Stonegate Investment Group LLC’s holdings in PPG Industries were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Vest Financial LLC grew its holdings in shares of PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares in the last quarter. BDF Gestion bought a new position in shares of PPG Industries during the 2nd quarter worth $3,452,000. State Board of Administration of Florida Retirement System increased its holdings in PPG Industries by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after acquiring an additional 22,079 shares during the last quarter. Vanguard Group Inc. raised its stake in PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after acquiring an additional 4,222,402 shares during the period. Finally, Perpetual Ltd lifted its holdings in PPG Industries by 416.5% during the first quarter. Perpetual Ltd now owns 7,365 shares of the specialty chemicals company’s stock valued at $1,067,000 after purchasing an additional 5,939 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group raised their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Barclays decreased their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday. Finally, Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $150.50.

PPG Industries Stock Down 0.3 %

PPG opened at $130.93 on Friday. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $127.21 and its 200-day moving average price is $129.19. The company has a market cap of $30.55 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.73 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. On average, equities analysts expect that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.08%. PPG Industries’s payout ratio is presently 44.59%.

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.