Sanctuary Advisors LLC Invests $6.59 Million in PPG Industries, Inc. (NYSE:PPG)

Sanctuary Advisors LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,608 shares of the specialty chemicals company’s stock, valued at approximately $6,587,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its holdings in PPG Industries by 49.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock valued at $4,239,000 after buying an additional 9,384 shares in the last quarter. Vest Financial LLC boosted its position in shares of PPG Industries by 28.9% in the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock valued at $42,516,000 after acquiring an additional 75,620 shares during the period. BDF Gestion bought a new position in shares of PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System grew its stake in PPG Industries by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after acquiring an additional 22,079 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PPG. BMO Capital Markets reduced 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 report on Monday, July 22nd. Bank of America decreased their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. KeyCorp lowered their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada cut their price objective 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. Finally, Barclays lowered their target price 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. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Price Performance

PPG stock opened at $128.57 on Friday. The firm has a market cap of $30.00 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.81 and a beta of 1.26. The firm’s fifty day moving average is $125.94 and its 200 day moving average is $130.16. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week 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.

PPG Industries (NYSE:PPG) last announced 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 return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend 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 is 45.95%.

About PPG Industries

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.