XTX Topco Ltd Sells 2,878 Shares of PPG Industries, Inc. (NYSE:PPG)

XTX Topco Ltd cut its stake in PPG Industries, Inc. (NYSE:PPG) by 33.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,744 shares of the specialty chemicals company’s stock after selling 2,878 shares during the period. XTX Topco Ltd’s holdings in PPG Industries were worth $723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FinTrust Capital Advisors LLC raised its stake in PPG Industries by 38.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 76 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of PPG Industries by 0.9% during the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after purchasing an additional 81 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its position in PPG Industries by 4.2% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock valued at $292,000 after buying an additional 82 shares in the last quarter. Finally, Applied Capital LLC FL boosted its position in PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after buying an additional 82 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets cut their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Barclays lowered their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Down 2.1 %

Shares of NYSE:PPG opened at $126.50 on Monday. The company has a 50 day moving average of $125.71 and a 200-day moving average of $130.73. 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 price-to-earnings 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 current ratio of 1.49 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the company posted $2.25 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, sell-side 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 given a dividend of $0.68 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Monday, August 12th. PPG Industries’s payout ratio is presently 45.95%.

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.