Pacer Advisors Inc. Has $6.23 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Pacer Advisors Inc. grew its position in PPG Industries, Inc. (NYSE:PPG) by 181.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,047 shares of the specialty chemicals company’s stock after buying an additional 30,322 shares during the period. Pacer Advisors Inc.’s holdings in PPG Industries were worth $6,232,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Shell Asset Management Co. acquired a new position in shares of PPG Industries in the 1st quarter valued at $364,000. LRI Investments LLC acquired a new position in shares of PPG Industries during the 1st quarter worth about $53,000. Price T Rowe Associates Inc. MD increased its stake in shares of PPG Industries by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 474,053 shares of the specialty chemicals company’s stock valued at $68,692,000 after acquiring an additional 3,448 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in PPG Industries by 0.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 27,878 shares of the specialty chemicals company’s stock worth $4,040,000 after acquiring an additional 171 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in PPG Industries by 29.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 5,054 shares of the specialty chemicals company’s stock valued at $732,000 after purchasing an additional 1,158 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s 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 transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PPG. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada dropped their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Down 0.0 %

PPG stock opened at $122.65 on Monday. The business’s 50 day simple moving average is $127.00 and its 200 day simple moving average is $127.40. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The firm has a market capitalization of $28.45 billion, a PE ratio of 19.44, a PEG ratio of 1.88 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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 company had revenue of $4.58 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 earnings per share. As a group, research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

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

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.