AM Squared Ltd Has $556,000 Stake in PPG Industries, Inc. (NYSE:PPG)

AM Squared Ltd raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 61.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,200 shares of the specialty chemicals company’s stock after purchasing an additional 1,600 shares during the period. PPG Industries makes up about 1.2% of AM Squared Ltd’s investment portfolio, making the stock its 7th largest holding. AM Squared Ltd’s holdings in PPG Industries were worth $556,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Tower Bridge Advisors boosted its stake in PPG Industries by 63.0% during the 3rd quarter. Tower Bridge Advisors now owns 4,400 shares of the specialty chemicals company’s stock valued at $583,000 after purchasing an additional 1,700 shares during the last quarter. Gladius Capital Management LP purchased a new stake in PPG Industries during the 3rd quarter valued at $157,000. Schneider Downs Wealth Management Advisors LP purchased a new stake in PPG Industries during the 3rd quarter valued at $204,000. Natixis Advisors LLC boosted its stake in PPG Industries by 57.8% during the 3rd quarter. Natixis Advisors LLC now owns 137,372 shares of the specialty chemicals company’s stock valued at $18,196,000 after purchasing an additional 50,326 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in PPG Industries by 163.6% during the 3rd quarter. Mizuho Securities USA LLC now owns 47,839 shares of the specialty chemicals company’s stock valued at $6,337,000 after purchasing an additional 29,688 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $122.53 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business’s 50-day simple moving average is $127.37 and its two-hundred day simple moving average is $127.80. The stock has a market cap of $28.43 billion, a PE ratio of 19.42, a P/E/G ratio of 1.87 and a beta of 1.26. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG) last posted its quarterly 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 business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. As a group, analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.22%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Analyst Upgrades and Downgrades

PPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Royal Bank of Canada dropped their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. Bank of America dropped their price target 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. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, KeyCorp dropped their price target 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. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.93.

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.