Mcrae Capital Management Inc. maintained its position in PPG Industries Inc. (NYSE:PPG) during the second quarter, Holdings Channel reports. The institutional investor owned 3,700 shares of the company’s stock at the end of the second quarter. Mcrae Capital Management Inc.’s holdings in PPG Industries were worth $385,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in shares of PPG Industries during the first quarter valued at about $144,000. Invictus RG bought a new stake in shares of PPG Industries during the first quarter valued at about $147,000. Checchi Capital Advisers LLC raised its stake in shares of PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock valued at $202,000 after buying an additional 59 shares during the last quarter. Concert Wealth Management Inc. raised its stake in shares of PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock valued at $203,000 after buying an additional 166 shares during the last quarter. Finally, Scotia Capital Inc. bought a new stake in shares of PPG Industries during the first quarter valued at about $231,000. Institutional investors own 73.01% of the company’s stock.
Shares of PPG Industries Inc. (NYSE:PPG) traded down 0.51% on Friday, reaching $92.87. 2,062,332 shares of the company’s stock were exchanged. PPG Industries Inc. has a one year low of $88.37 and a one year high of $117.00. The company’s 50 day moving average is $97.88 and its 200-day moving average is $105.06. The stock has a market cap of $24.52 billion, a price-to-earnings ratio of 29.50 and a beta of 1.47.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 20th. The company reported $1.56 EPS for the quarter, meeting analysts’ consensus estimates of $1.56. The firm earned $3.80 billion during the quarter, compared to the consensus estimate of $3.83 billion. PPG Industries had a return on equity of 30.59% and a net margin of 5.56%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 EPS. On average, analysts anticipate that PPG Industries Inc. will post $5.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.72%. PPG Industries’s dividend payout ratio is currently 51.12%.
Several equities research analysts have issued reports on the stock. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Jefferies Group restated a “buy” rating and issued a $113.00 price objective (down from $129.00) on shares of PPG Industries in a report on Monday, October 24th. Goldman Sachs Group Inc. lowered shares of PPG Industries from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $111.00 to $103.00 in a report on Thursday, October 20th. RBC Capital Markets restated an “outperform” rating and issued a $106.00 price objective (down from $125.00) on shares of PPG Industries in a report on Wednesday, October 12th. Finally, JPMorgan Chase & Co. set a $110.00 price objective on shares of PPG Industries and gave the stock a “buy” rating in a report on Monday, October 10th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $113.42.
In other news, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the transaction, the vice president now directly owns 11,806 shares in the company, valued at approximately $1,228,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.68% of the company’s stock.
About PPG Industries
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.