Silvant Capital Management LLC Has $1.20 Million Position in PPG Industries, Inc. (NYSE:PPG)

Financial News Live · Feb 7, 2023 21:43

Silvant Capital Management LLC trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 10,862 shares of the specialty chemicals company's stock after selling 106 shares during the quarter. Silvant Capital Management LLC's holdings in PPG Industries were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of PPG Industries by 12.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,967 shares of the specialty chemicals company's stock valued at $1,989,000 after acquiring an additional 2,015 shares during the last quarter. TownSquare Capital LLC boosted its stake in shares of PPG Industries by 14.5% during the second quarter. TownSquare Capital LLC now owns 7,575 shares of the specialty chemicals company's stock valued at $866,000 after purchasing an additional 961 shares in the last quarter. StoneX Group Inc. bought a new stake in shares of PPG Industries during the second quarter worth about $376,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of PPG Industries by 102.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,995 shares of the specialty chemicals company's stock valued at $1,372,000 after buying an additional 6,064 shares during the period. Finally, Bank of Montreal Can raised its holdings in PPG Industries by 14.3% in the 2nd quarter. Bank of Montreal Can now owns 250,556 shares of the specialty chemicals company's stock valued at $30,807,000 after buying an additional 31,301 shares during the last quarter. Institutional investors own 80.04% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on PPG shares. JPMorgan Chase & Co. boosted their target price on shares of PPG Industries from $116.00 to $130.00 and gave the stock a "neutral" rating in a report on Monday, January 23rd. Wells Fargo & Company boosted their price objective on shares of PPG Industries from $115.00 to $124.00 and gave the stock an "equal weight" rating in a research note on Monday, January 23rd. Royal Bank of Canada lowered PPG Industries from an "outperform" rating to a "sector perform" rating and raised their target price for the stock from $128.00 to $129.00 in a research report on Tuesday, January 10th. Barclays cut their target price on PPG Industries from $150.00 to $130.00 in a report on Tuesday, October 11th. Finally, Argus increased their price target on PPG Industries from $144.00 to $149.00 in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $135.55.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 21,757 shares of PPG Industries stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the transaction, the vice president now owns 10,577 shares of the company's stock, valued at $1,357,346.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PPG Industries news, VP Anne M. Foulkes sold 21,757 shares of the stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the sale, the vice president now owns 10,577 shares in the company, valued at approximately $1,357,346.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Michael H. Mcgarry sold 61,867 shares of the business's stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total value of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at approximately $23,866,504.20. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $129.44 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 1.05. The firm's 50-day moving average price is $129.48 and its 200-day moving average price is $124.78. The firm has a market capitalization of $30.42 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.85 and a beta of 1.18. PPG Industries, Inc. has a 1-year low of $107.06 and a 1-year high of $157.55.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The company's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. Equities research analysts anticipate that PPG Industries, Inc. will post 6.49 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 17th will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a yield of 1.92%. PPG Industries's dividend payout ratio (DPR) is presently 57.27%.

PPG Industries Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, and architectural coatings businesses.