PPG Industries, Inc. (NYSE:PPG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 29.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 259,886 shares of the specialty chemicals company’s stock after selling 106,431 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of PPG Industries worth $32,717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PPG. Financial Connections Group Inc. acquired a new position in shares of PPG Industries in the 2nd quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new position in shares of PPG Industries in the 1st quarter valued at about $29,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries in the 1st quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in PPG Industries in the fourth quarter valued at approximately $29,000. Finally, Riverview Trust Co purchased a new stake in shares of PPG Industries in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $126.50 on Friday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The stock has a market cap of $29.51 billion, a PE ratio of 21.37, a P/E/G ratio of 1.72 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The stock has a 50 day moving average price of $125.71 and a 200 day moving average price of $130.85.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the firm earned $2.25 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date 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 dividend payout ratio is currently 45.95%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PPG. 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 note on Monday, July 22nd. KeyCorp dropped 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 report on Monday, July 22nd. UBS Group upped their price target on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Bank of America lowered their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Finally, Royal Bank of Canada reduced 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.