Victory Capital Management Inc. Raises Stock Position in PPG Industries, Inc. (NYSE:PPG)

Victory Capital Management Inc. lifted its position in PPG Industries, Inc. (NYSE:PPG) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 457,197 shares of the specialty chemicals company’s stock after buying an additional 55,808 shares during the period. Victory Capital Management Inc.’s holdings in PPG Industries were worth $60,560,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kingsview Wealth Management LLC grew its holdings in PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares during the last quarter. Insight Folios Inc increased its position in PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after buying an additional 81 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after buying an additional 82 shares during the last quarter. Klingman & Associates LLC boosted its holdings in PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares in the last quarter. Finally, Fragasso Financial Advisors Inc increased its holdings 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 valued at $1,757,000 after acquiring an additional 84 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Up 0.1 %

PPG opened at $123.52 on Friday. The company has a fifty day moving average of $127.45 and a two-hundred day moving average of $127.90. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.86 and a beta of 1.26. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 EPS. On average, research analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Bank of America reduced their target price 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. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, KeyCorp reduced their price objective 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 twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Company 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.