Grove Bank & Trust Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

Grove Bank & Trust grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 5.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,246 shares of the specialty chemicals company’s stock after acquiring an additional 277 shares during the quarter. Grove Bank & Trust’s holdings in PPG Industries were worth $695,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PPG. Kingsview Wealth Management LLC boosted its position in shares of PPG Industries by 0.9% during the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after buying an additional 76 shares during the period. Applied Capital LLC FL boosted its position in shares of PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 82 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after buying an additional 82 shares during the period. Klingman & Associates LLC boosted its position in shares of PPG Industries by 2.6% during the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc boosted its position in shares of PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.4 %

Shares of NYSE PPG traded up $0.56 during mid-day trading on Monday, reaching $128.81. The company had a trading volume of 391,218 shares, compared to its average volume of 1,586,927. 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 market capitalization of $30.21 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.72 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’s 50 day moving average is $126.09 and its 200-day moving average is $129.47.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $2.25 earnings per share. As a group, equities analysts anticipate that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a $0.68 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PPG. Citigroup cut their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Bank of America cut their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. KeyCorp cut their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Barclays cut their target price on 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. Finally, Royal Bank of Canada cut their target price on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.