Evelyn Partners Asset Management Ltd Decreases Stake in PPG Industries, Inc. $PPG

Evelyn Partners Asset Management Ltd cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 69.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,629 shares of the specialty chemicals company’s stock after selling 24,195 shares during the quarter. Evelyn Partners Asset Management Ltd’s holdings in PPG Industries were worth $1,136,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after buying an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after buying an additional 920 shares in the last quarter. Empowered Funds LLC increased its holdings in PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP lifted its position in shares of PPG Industries by 40.7% during the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after acquiring an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC lifted its position in shares of PPG Industries by 6.2% during the 2nd quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after acquiring an additional 371 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE PPG opened at $118.61 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The business has a fifty day moving average of $116.08 and a 200-day moving average of $113.44. The stock has a market cap of $26.44 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. As a group, analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is 42.23%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research reports. BNP Paribas Exane upped their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Citigroup upped their target price on PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, June 24th. BMO Capital Markets dropped their price target on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Finally, Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $126.13.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.