PPG Industries, Inc. (NYSE:PPG) is AM Squared Ltd’s 7th Largest Position

AM Squared Ltd increased its stake in PPG Industries, Inc. (NYSE:PPG) by 61.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,200 shares of the specialty chemicals company’s stock after acquiring an additional 1,600 shares during the period. PPG Industries accounts for approximately 1.2% of AM Squared Ltd’s holdings, making the stock its 7th largest holding. AM Squared Ltd’s holdings in PPG Industries were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the second quarter valued at approximately $25,000. Capital Performance Advisors LLP purchased a new position in shares of PPG Industries during the third quarter valued at approximately $34,000. Rothschild Investment LLC purchased a new position in shares of PPG Industries during the second quarter valued at approximately $37,000. Hara Capital LLC purchased a new position in shares of PPG Industries during the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of PPG Industries during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PPG shares. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Bank of America dropped their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Citigroup lowered their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Royal Bank of Canada lowered their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $122.53 on Friday. The company has a market capitalization of $28.43 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth 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. 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 firm has a 50 day moving average of $127.37 and a 200 day moving average of $127.80.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is presently 43.11%.

Insider Transactions at PPG Industries

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

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.