PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Argent Trust Co

Argent Trust Co grew its stake in PPG Industries, Inc. (NYSE:PPG) by 9.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,187 shares of the specialty chemicals company’s stock after acquiring an additional 186 shares during the period. Argent Trust Co’s holdings in PPG Industries were worth $275,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in PPG Industries during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new position in PPG Industries during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new position in PPG Industries in the 4th quarter valued at about $29,000. Finally, Riverview Trust Co purchased a new stake in PPG Industries during the first quarter worth about $34,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $126.50 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The stock has a market cap of $29.51 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.72 and a beta of 1.26. The stock has a 50 day moving average of $125.71 and a two-hundred day moving average of $130.85. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.25 EPS. On average, research analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current 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. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is presently 45.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. KeyCorp cut their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Barclays reduced their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada decreased their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets cut their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, UBS Group lifted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries 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.