SYSTM Wealth Solutions LLC Trims Position in PPG Industries, Inc. (NYSE:PPG)

SYSTM Wealth Solutions LLC trimmed its stake in PPG Industries, Inc. (NYSE:PPG) by 23.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,541 shares of the specialty chemicals company’s stock after selling 472 shares during the period. SYSTM Wealth Solutions LLC’s holdings in PPG Industries were worth $194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of PPG Industries by 49.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock valued at $4,239,000 after purchasing an additional 9,384 shares during the period. Vest Financial LLC grew its position in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after buying an additional 75,620 shares in the last quarter. BDF Gestion purchased a new position in shares of PPG Industries during the second quarter valued at $3,452,000. State Board of Administration of Florida Retirement System raised its holdings in shares of PPG Industries by 8.8% in 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. lifted its stake in PPG Industries by 17.2% in 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 acquiring an additional 4,222,402 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

NYSE PPG opened at $127.46 on Thursday. The stock has a market capitalization of $29.89 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.69 and a beta of 1.26. PPG Industries, Inc. has a twelve month low of $118.07 and a twelve month high of $151.16. The stock has a 50-day moving average of $125.80 and a 200 day moving average of $130.95. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released 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. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared 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 is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.13%. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. Barclays reduced their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets cut their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Finally, Citigroup lowered their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

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.