Massachusetts Financial Services Co. MA Has $936.54 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Massachusetts Financial Services Co. MA lessened its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.5% in the second quarter, Holdings Channel.com reports. The firm owned 7,439,361 shares of the specialty chemicals company’s stock after selling 37,731 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PPG Industries were worth $936,541,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC grew its holdings in shares of PPG Industries by 38.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 76 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after acquiring an additional 76 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of PPG Industries by 1.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its position in shares of PPG Industries by 4.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock worth $292,000 after purchasing an additional 82 shares in the last quarter. Finally, Applied Capital LLC FL boosted its holdings in PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after purchasing an additional 82 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PPG shares. BMO Capital Markets lowered their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group increased their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. KeyCorp lowered their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Royal Bank of Canada cut their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Price Performance

Shares of PPG opened at $126.98 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The firm has a market capitalization of $29.78 billion, a PE ratio of 21.45, a PEG ratio of 1.69 and a beta of 1.26. The company’s 50-day moving average is $125.73 and its 200-day moving average is $131.16. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 EPS. Equities analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is presently 45.95%.

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.