Putnam Investments LLC Has $545,000 Position in PPG Industries, Inc. (PPG)

Putnam Investments LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 88.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,753 shares of the specialty chemicals company’s stock after selling 43,530 shares during the period. Putnam Investments LLC’s holdings in PPG Industries were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in shares of PPG Industries by 7.9% in the third quarter. Fisher Asset Management LLC now owns 2,135 shares of the specialty chemicals company’s stock worth $221,000 after buying an additional 156 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of PPG Industries by 2.2% in the third quarter. Capstone Asset Management Co. now owns 29,788 shares of the specialty chemicals company’s stock worth $3,079,000 after buying an additional 640 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of PPG Industries by 2.4% in the third quarter. Nisa Investment Advisors LLC now owns 47,630 shares of the specialty chemicals company’s stock worth $4,923,000 after buying an additional 1,120 shares during the last quarter. MSI Financial Services Inc boosted its position in shares of PPG Industries by 4.1% in the third quarter. MSI Financial Services Inc now owns 11,399 shares of the specialty chemicals company’s stock worth $1,178,000 after buying an additional 447 shares during the last quarter. Finally, Highland Capital Management LLC boosted its position in shares of PPG Industries by 1.2% in the third quarter. Highland Capital Management LLC now owns 10,775 shares of the specialty chemicals company’s stock worth $1,114,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 71.49% of the company’s stock.

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

PPG Industries, Inc. (NYSE:PPG) traded down 0.40% during trading on Friday, hitting $105.94. 2,044,901 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $104.33 and its 200 day moving average price is $98.98. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $114.65. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of 32.29 and a beta of 1.39.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, April 20th. The specialty chemicals company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.03. PPG Industries had a return on equity of 29.94% and a net margin of 5.84%. The business earned $3.57 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts forecast that PPG Industries, Inc. will post $6.23 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, May 8th. PPG Industries’s dividend payout ratio (DPR) is presently 48.93%.

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A number of equities research analysts have issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $120.00 price target (up previously from $113.00) on shares of PPG Industries in a report on Tuesday. Citigroup Inc reissued a “market perform” rating on shares of PPG Industries in a report on Friday, April 14th. Atlantic Securities raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $125.00 target price on the stock in a research note on Wednesday, March 15th. Wells Fargo & Co lowered shares of PPG Industries from an “outperform” rating to a “market perform” rating in a research note on Thursday, March 9th. Finally, Evercore ISI assumed coverage on shares of PPG Industries in a research note on Monday, February 13th. They set a “buy” rating and a $117.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $114.21.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has three segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.

5 Day Chart for NYSE:PPG

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