Edgestream Partners L.P. Has $1.67 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Edgestream Partners L.P. reduced its position in PPG Industries, Inc. (NYSE:PPG) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,299 shares of the specialty chemicals company’s stock after selling 2,210 shares during the quarter. Edgestream Partners L.P.’s holdings in PPG Industries were worth $1,674,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Gryphon Financial Partners LLC increased its stake in PPG Industries by 1.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after acquiring an additional 81 shares during the last quarter. UBS Group AG raised its holdings in shares of PPG Industries by 23.8% during the 4th quarter. UBS Group AG now owns 612,946 shares of the specialty chemicals company’s stock worth $91,666,000 after buying an additional 117,682 shares in the last quarter. Assetmark Inc. lifted its position in shares of PPG Industries by 11.1% during the 4th quarter. Assetmark Inc. now owns 36,907 shares of the specialty chemicals company’s stock worth $5,520,000 after buying an additional 3,702 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its stake in PPG Industries by 207.5% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 29,035 shares of the specialty chemicals company’s stock valued at $4,342,000 after buying an additional 19,593 shares in the last quarter. Finally, InterOcean Capital Group LLC grew its position in PPG Industries by 15.0% in the fourth quarter. InterOcean Capital Group LLC now owns 3,926 shares of the specialty chemicals company’s stock valued at $587,000 after acquiring an additional 512 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Citigroup cut their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. UBS Group boosted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, Barclays dropped their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Price Performance

Shares of PPG opened at $129.19 on Friday. The stock has a market cap of $30.30 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.69 and a beta of 1.26. The business’s fifty day moving average is $125.79 and its 200 day moving average is $130.94. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the company earned $2.25 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.