Trade Report: The PPG Industries Inc. (PPG) Position Held by Greatmark Investment Partners Inc.

The PPG Industries Inc. (PPG) Position Held by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. continued to hold its stake in PPG Industries Inc. (NYSE:PPG) during the second quarter, Holdings Channel reports. The institutional investor owned 7,200 shares of the company’s stock at the end of the second quarter. Greatmark Investment Partners Inc.’s holdings in PPG Industries were worth $750,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in PPG Industries by 1.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 809,812 shares of the company’s stock worth $84,342,000 after buying an additional 8,530 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its stake in PPG Industries by 1.3% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 20,714 shares of the company’s stock worth $2,157,000 after buying an additional 273 shares during the period. Concert Wealth Management Inc. raised its stake in PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock worth $203,000 after buying an additional 166 shares during the period. Public Employees Retirement Association of Colorado raised its stake in PPG Industries by 744.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 506,068 shares of the company’s stock worth $52,707,000 after buying an additional 446,151 shares during the period. Finally, LMR Partners LLP acquired a new stake in PPG Industries during the second quarter worth about $693,000. Institutional investors own 73.01% of the company’s stock.

Shares of PPG Industries Inc. (NYSE:PPG) traded up 0.06% on Monday, reaching $92.66. 1,918,290 shares of the company’s stock traded hands. The company has a 50 day moving average of $101.62 and a 200-day moving average of $106.41. PPG Industries Inc. has a 52 week low of $88.37 and a 52 week high of $117.00. The stock has a market capitalization of $24.67 billion, a PE ratio of 17.12 and a beta of 1.47.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.85. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.17 billion. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. PPG Industries’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.67 earnings per share. Equities research analysts forecast that PPG Industries Inc. will post $6.17 earnings per share for the current year.

A number of equities research analysts have issued reports on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $111.00 target price (down from $119.00) on shares of PPG Industries in a report on Thursday. RBC Capital Markets reiterated an “outperform” rating and set a $106.00 target price (down from $125.00) on shares of PPG Industries in a report on Wednesday, October 12th. JPMorgan Chase & Co. set a $110.00 price objective on shares of PPG Industries and gave the company a “buy” rating in a research report on Monday, October 10th. Citigroup Inc. dropped their price objective on shares of PPG Industries from $131.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday, October 11th. Finally, Royal Bank Of Canada dropped their price objective on shares of PPG Industries from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 11th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $115.46.

In other news, insider Viktoras R. Sekmakas sold 40,950 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the transaction, the insider now directly owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 11,806 shares in the company, valued at $1,228,768.48. The disclosure for this sale can be found here. Company 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.

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