Amalgamated Bank Raises Position in PPG Industries, Inc. (NYSE:PPG)

Amalgamated Bank increased its holdings in shares of PPG Industries, Inc. (NYSE:PPGFree Report) by 2.4% during the third quarter, Holdings Channel.com reports. The fund owned 62,664 shares of the specialty chemicals company’s stock after buying an additional 1,483 shares during the period. Amalgamated Bank’s holdings in PPG Industries were worth $8,134,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vontobel Holding Ltd. lifted its stake in PPG Industries by 51.9% in the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after buying an additional 2,048 shares in the last quarter. Sei Investments Co. lifted its stake in PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after buying an additional 3,025 shares in the last quarter. Prudential PLC purchased a new position in PPG Industries in the 1st quarter valued at about $619,000. Vanguard Group Inc. lifted its stake in PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after buying an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock worth $2,553,000 after purchasing an additional 1,283 shares in the last quarter. 79.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp raised their target price on shares of PPG Industries from $166.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Barclays raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and set a $160.00 target price on the stock in a research note on Wednesday, October 11th. Citigroup cut their price target on shares of PPG Industries from $154.00 to $152.00 and set a “buy” rating for the company in a report on Friday, October 20th. Robert W. Baird restated an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a report on Friday, January 19th. Finally, Vertical Research upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $158.93.

Read Our Latest Stock Report on PPG Industries

PPG Industries Stock Down 1.0 %

PPG Industries stock opened at $140.09 on Monday. The firm has a 50 day moving average price of $144.98 and a 200 day moving average price of $138.09. The company has a market capitalization of $33.03 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.47. PPG Industries, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.49 by $0.04. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.79%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Research analysts expect that PPG Industries, Inc. will post 8.45 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Thursday, February 15th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.60 annualized dividend and a dividend yield of 1.86%. PPG Industries’s dividend payout ratio (DPR) is 48.69%.

PPG Industries Company Profile

(Free Report)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

See Also

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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