Gulf International Bank UK Ltd Has $7.86 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Gulf International Bank UK Ltd lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,300 shares of the specialty chemicals company’s stock after selling 165 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PPG Industries were worth $7,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PPG. BDO Wealth Advisors LLC increased its position in PPG Industries by 70.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 227 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 94 shares in the last quarter. Blume Capital Management Inc. acquired a new stake in PPG Industries in the 1st quarter valued at about $38,000. Sandy Spring Bank increased its position in PPG Industries by 78.5% in the 2nd quarter. Sandy Spring Bank now owns 232 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 102 shares in the last quarter. Concord Wealth Partners acquired a new stake in PPG Industries in the 1st quarter valued at about $40,000. Finally, Logan Capital Management Inc. acquired a new stake in PPG Industries in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Shares of PPG opened at $150.33 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.95 and a current ratio of 1.36. PPG Industries, Inc. has a twelve month low of $116.95 and a twelve month high of $182.97. The firm’s 50 day moving average price is $163.02 and its two-hundred day moving average price is $164.37. The firm has a market cap of $35.68 billion, a P/E ratio of 23.56, a PEG ratio of 1.00 and a beta of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Sunday, July 18th. The specialty chemicals company reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.19 by ($0.25). PPG Industries had a net margin of 9.71% and a return on equity of 29.65%. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the firm posted $0.99 EPS. The business’s quarterly revenue was up 44.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Tuesday, August 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Monday, August 9th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.54. PPG Industries’s payout ratio is currently 41.40%.

PPG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PPG Industries from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, September 8th. BMO Capital Markets lowered their price target on shares of PPG Industries from $197.00 to $189.00 and set an “outperform” rating for the company in a research report on Wednesday, July 21st. Barclays decreased their price objective on shares of PPG Industries from $188.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, July 21st. Susquehanna Bancshares upgraded shares of PPG Industries from a “neutral” rating to a “positive” rating and set a $163.36 price objective for the company in a report on Monday, July 26th. Finally, Zacks Investment Research cut shares of PPG Industries from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a report on Tuesday, June 22nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $171.55.

PPG Industries Company Profile

PPG Industries, Inc engages in the manufacture and distribution of coatings, specialty materials, and glass products. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment comprises of the refinish, aerospace, protective and marine, and architectural coatings businesses.

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

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