Toronto Dominion Bank grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 22.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,244 shares of the specialty chemicals company’s stock after acquiring an additional 17,346 shares during the quarter. Toronto Dominion Bank’s holdings in PPG Industries were worth $10,363,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its holdings in shares of PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock valued at $100,000 after acquiring an additional 10,896 shares during the period. Bruderman Asset Management LLC acquired a new position in shares of PPG Industries during the second quarter valued at $105,000. V Wealth Management LLC acquired a new position in shares of PPG Industries during the second quarter valued at $112,000. State of Alaska Department of Revenue acquired a new position in shares of PPG Industries during the second quarter valued at $113,000. Finally, Global X Management Co. LLC boosted its holdings in shares of PPG Industries by 26.7% during the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock valued at $124,000 after acquiring an additional 249 shares during the period. 73.93% of the stock is owned by institutional investors.
PPG Industries, Inc. (PPG) traded up 0.11% during midday trading on Tuesday, reaching $113.29. 265,702 shares of the company traded hands. PPG Industries, Inc. has a 12-month low of $89.64 and a 12-month high of $114.15. The company has a market cap of $29.06 billion, a price-to-earnings ratio of 29.81 and a beta of 1.55. The company has a 50-day moving average price of $108.15 and a 200-day moving average price of $107.69.
PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 20th. The specialty chemicals company reported $1.83 EPS for the quarter, hitting the consensus estimate of $1.83. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.92 billion. PPG Industries had a return on equity of 29.47% and a net margin of 6.79%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, analysts predict that PPG Industries, Inc. will post $6.00 earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on PPG shares. Argus raised shares of PPG Industries from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.61 to $136.00 in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $120.00 price target on shares of PPG Industries in a report on Thursday, July 6th. Credit Suisse Group reissued an “outperform” rating and set a $114.00 price target (up previously from $109.00) on shares of PPG Industries in a report on Monday, July 17th. They noted that the move was a valuation call. BidaskClub raised shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Deutsche Bank AG boosted their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. PPG Industries presently has an average rating of “Hold” and an average price target of $115.67.
In other news, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares in the company, valued at $5,316,998.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the sale, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.
PPG Industries Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. 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.
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