Marietta Investment Partners LLC Decreases Holdings in PPG Industries, Inc. (NYSE:PPG)

Marietta Investment Partners LLC lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 10.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,128 shares of the specialty chemicals company’s stock after selling 1,190 shares during the quarter. Marietta Investment Partners LLC’s holdings in PPG Industries were worth $1,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares in the last quarter. Federated Hermes Inc. lifted its position in PPG Industries by 91.0% in the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after acquiring an additional 249,406 shares during the last quarter. SG Americas Securities LLC boosted its stake in PPG Industries by 549.0% in the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in shares of PPG Industries during the first quarter worth about $31,033,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 2.1 %

NYSE:PPG opened at $126.50 on Monday. PPG Industries, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. 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 fifty day moving average price of $125.71 and a two-hundred day moving average price of $130.73. The stock has a market capitalization of $29.51 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results 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 company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period last year, the firm earned $2.25 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, 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. Investors of record on Monday, August 12th were paid a $0.68 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a 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 presently 45.95%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. 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. Bank of America decreased their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Citigroup cut their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group raised their price objective 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. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.