Carnegie Investment Counsel Has $1.48 Million Holdings in PPG Industries, Inc. (NYSE:PPG)

Carnegie Investment Counsel trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,150 shares of the specialty chemicals company’s stock after selling 442 shares during the quarter. Carnegie Investment Counsel’s holdings in PPG Industries were worth $1,477,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PPG. Financial Connections Group Inc. bought a new stake in PPG Industries during the 2nd quarter worth approximately $25,000. Richardson Financial Services Inc. bought a new stake in PPG Industries in the 4th quarter worth about $29,000. Riverview Trust Co bought a new position in shares of PPG Industries during the 1st quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $37,000. Finally, LRI Investments LLC grew its holdings in shares of PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group boosted their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets decreased their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, 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 note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 0.2 %

PPG opened at $128.50 on Tuesday. The business’s fifty day simple moving average is $126.27 and its 200 day simple moving average is $129.36. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The stock has a market cap of $30.13 billion, a PE ratio of 21.71, a P/E/G ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted 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. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period in the prior year, the business posted $2.25 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts expect that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

About PPG Industries

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.