Moors & Cabot Inc. Reduces Holdings in PPG Industries, Inc. (NYSE:PPG)

Moors & Cabot Inc. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 4.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,420 shares of the specialty chemicals company’s stock after selling 550 shares during the quarter. Moors & Cabot Inc.’s holdings in PPG Industries were worth $1,438,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PPG. Financial Connections Group Inc. acquired a new position in PPG Industries during the 2nd quarter valued at approximately $25,000. LifeSteps Financial Inc. purchased a new stake in shares of PPG Industries during the first quarter valued at $29,000. YHB Investment Advisors Inc. acquired a new position in shares of PPG Industries in the 1st quarter valued at $29,000. Richardson Financial Services Inc. purchased a new position in PPG Industries in the 4th quarter worth $29,000. Finally, Riverview Trust Co acquired a new stake in PPG Industries during the 1st quarter worth about $34,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Citigroup cut their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Barclays reduced 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 report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Price Performance

NYSE:PPG opened at $127.46 on Wednesday. The stock has a market capitalization of $29.74 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.69 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 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The stock’s 50-day moving average price is $125.79 and its 200-day moving average price is $130.98.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $2.25 earnings per share. As a group, equities analysts expect that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a yield of 2.13%. PPG Industries’s dividend payout ratio is currently 45.95%.

PPG Industries 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.