Bartlett & Co. LLC Has $736,000 Position in PPG Industries, Inc. (NYSE:PPG)

Defense World · Mar 18, 2023 21:35

Bartlett & Co. LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,854 shares of the specialty chemicals company's stock after purchasing an additional 100 shares during the period. Bartlett & Co. LLC's holdings in PPG Industries were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PPG. Guardian Wealth Advisors LLC acquired a new stake in PPG Industries during the 3rd quarter worth approximately $27,000. New England Asset Management Inc. acquired a new position in PPG Industries in the 2nd quarter valued at $33,000. Parkside Financial Bank & Trust raised its holdings in PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company's stock valued at $36,000 after acquiring an additional 87 shares in the last quarter. CVA Family Office LLC raised its holdings in PPG Industries by 312.5% in the 3rd quarter. CVA Family Office LLC now owns 330 shares of the specialty chemicals company's stock valued at $37,000 after acquiring an additional 250 shares in the last quarter. Finally, Achmea Investment Management B.V. acquired a new position in PPG Industries in the 1st quarter valued at $40,000. 80.04% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on PPG. Mizuho reaffirmed a "buy" rating and issued a $142.00 price objective on shares of PPG Industries in a report on Tuesday, February 7th. KeyCorp lifted their price target on PPG Industries from $144.00 to $159.00 and gave the company an "overweight" rating in a research note on Monday, January 23rd. Argus lifted their price target on PPG Industries from $144.00 to $149.00 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 lifted their price target for the company from $128.00 to $129.00 in a research note on Tuesday, January 10th. Finally, Credit Suisse Group lifted their price target on PPG Industries from $104.00 to $118.00 and gave the company an "underperform" rating in a research note on Friday, January 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $135.84.

PPG Industries Stock Down 3.2 %

Shares of NYSE:PPG opened at $122.49 on Friday. The company has a market capitalization of $28.83 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 2.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.52 and a quick ratio of 1.04. The business's 50-day moving average is $129.68 and its 200-day moving average is $124.82. PPG Industries, Inc. has a 1 year low of $107.06 and a 1 year high of $138.10.

PPG Industries (NYSE:PPG – Get Rating) last announced its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.08. The company had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The firm's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts predict that PPG Industries, Inc. will post 6.52 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, February 16th. PPG Industries's dividend payout ratio (DPR) is currently 57.27%.

Insider Buying and Selling

In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the company'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 transaction of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares of the company's stock, valued at approximately $23,866,504.20. The transaction was disclosed in a document filed 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 business's 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 completion of the sale, the vice president now directly owns 10,577 shares of the company's stock, valued at approximately $1,357,346.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chairman now directly owns 183,645 shares of the company's stock, valued at $23,866,504.20. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

PPG Industries Company 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 supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.