Cleararc Capital Inc. Lowers Stake in PPG Industries, Inc. (PPG)

29 Juillet, 2017, 09:49 | Author: Marc Bacque

PPG Industries, Inc. (NYSE:PPG) has risen 1.03% since July 28, 2016 and is uptrending. (NYSE:PPG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,352 shares of the specialty chemicals company's stock after buying an additional 942 shares during the period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new stake in shares of PPG Industries during the fourth quarter worth about $801,000. BlackRock Inc. now owns 14,595,371 shares of the specialty chemicals company's stock worth $1,533,684,000 after buying an additional 13,902,595 shares in the last quarter. Baystate Wealth Management LLC boosted its position in shares of PPG Industries by 4.0% in the first quarter. Cable Hill Partners LLC now owns 981 shares of the specialty chemicals company's stock valued at $103,000 after buying an additional 77 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of PPG Industries by 32.4% in the fourth quarter. Barclays boosted their price objective on PPG Industries from $110.00 to $115.00 and issued the shares an "equal weight" recommendation in a study on Mon, Apr 24th. Coconut Grove Bank now owns 1,179 shares of the specialty chemicals company's stock valued at $124,000 after buying an additional 600 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in PPG Industries by 51.3% in the first quarter. Institutional investors own 71.65% of the company's stock. On average, equities research analysts predict that PPG Industries, Inc. will post $6.11 earnings per share for the current year. (PPG) opened at 106.15 on Friday. The company had a trading volume of 174,859 shares. PPG Industries, Inc. has a 12 month low of $89.64 and a 12 month high of $113.67. The company has a market cap of $27.11 billion, a price-to-earnings ratio of 27.812 and a beta of 1.56. The stock has a 50 day moving average of $110.25 and a 200-day moving average of $105.68.

(NYSE:PPG) news were published by: which released: "What's in Store for PPG Industries (PPG) in Q2 Earnings?" on July 17, 2017, also with their article: "Better Dividend Aristocrat: Sherwin-Williams Or PPG?" published on July 14, 2017, published: "Sherwin-Williams and PPG Tumble" on July 20, 2017. The specialty chemicals company reported $1.83 earnings per share for the quarter, meeting the Zacks' consensus estimate of $1.83.

For a total return analysis, there is the 6.50% return on equity to consider. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.92 billion. Next quarter's EPS is expected be $1.30 and the next full year EPS is projected to be $6.84. The value of the investment in (PPG) decreased from $3,697,000 to $3,503,000 a change of 5.2% since the last quarter.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 1.70%. This is an increase from PPG Industries's previous quarterly dividend of $0.40. The ex-dividend date is Tue, Aug 8th.

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Several research firms have weighed in on PPG. TheStreet raised PPG Industries from a "c+" rating to a "b+" rating in a report on Monday, May 22nd. Jefferies Group LLC reaffirmed a "buy" rating and set a $120.00 price target (up previously from $113.00) on shares of PPG Industries in a research report on Tuesday, April 18th. They noted that the move was a valuation call. The rating was upgraded by Argus Research to "Buy" on Wednesday, July 5. Finally, Credit Suisse Group set a $113.00 target price on shares of PPG Industries and gave the company a "buy" rating in a research report on Sunday, July 23rd. The latest reports which are outstanding on Friday 28th of July state 5 analysts have a rating of "strong buy", 7 analysts "buy", 10 analysts "neutral", 0 analysts "sell" and 0 analysts "strong sell". PPG Industries presently has a consensus recommendation of "Hold" and an average price objective of $113.93. The stock of PPG Industries, Inc. Citigroup restated a "market perform" recommendation on stocks of PPG Industries in a note on Fri, Apr 14th.


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