Bleakley Financial Group LLC Sells 636 Shares of PPG Industries, Inc. (NYSE:PPG)

Bleakley Financial Group LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,352 shares of the specialty chemicals company’s stock after selling 636 shares during the quarter. Bleakley Financial Group LLC’s holdings in PPG Industries were worth $576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Connections Group Inc. bought a new position in PPG Industries during the second quarter worth $25,000. Riverview Trust Co purchased a new position in PPG Industries in the first quarter worth $34,000. Rothschild Investment LLC purchased a new position in PPG Industries in the second quarter valued at about $37,000. LRI Investments LLC lifted its position in shares of PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after buying an additional 320 shares during the last quarter. Finally, Slocum Gordon & Co LLP raised its position in shares of PPG Industries by 51.7% in the second quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after purchasing an additional 155 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PPG. Citigroup cut their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. UBS Group raised their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. KeyCorp lowered their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, Bank of America cut 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. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.14.

PPG Industries Price Performance

PPG stock opened at $128.83 on Tuesday. 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, Inc. has a 1 year low of $118.07 and a 1 year high of $151.16. The firm has a 50-day moving average of $127.41 and a 200 day moving average of $128.93. The company has a market cap of $30.21 billion, a P/E ratio of 21.76, a PEG ratio of 1.73 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.07 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. PPG Industries’s payout ratio is 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.