Benjamin Edwards Inc. Has $2.93 Million Stake in PPG Industries, Inc. (NYSE:PPG)

Benjamin Edwards Inc. grew its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 329.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,108 shares of the specialty chemicals company's stock after buying an additional 16,956 shares during the quarter. Benjamin Edwards Inc.'s holdings in PPG Industries were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock worth $276,576,000 after buying an additional 368,410 shares during the period. FMR LLC lifted its stake in PPG Industries by 68.3% in the 3rd quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock worth $115,757,000 after acquiring an additional 354,740 shares in the last quarter. International Assets Investment Management LLC grew its stake in PPG Industries by 189.6% during the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company's stock valued at $56,538,000 after acquiring an additional 279,455 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock valued at $65,905,000 after purchasing an additional 249,406 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company's stock worth $32,246,000 after purchasing an additional 216,675 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PPG. Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. BMO Capital Markets reissued an "outperform" rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a research report on Friday, October 18th. StockNews.com cut shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, PPG Industries currently has an average rating of "Moderate Buy" and a consensus price target of $149.93.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company's stock.

PPG Industries Stock Performance

PPG stock traded down $1.33 during midday trading on Thursday, hitting $125.50. The stock had a trading volume of 3,389,705 shares, compared to its average volume of 1,593,791. The firm has a market capitalization of $29.12 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a 50-day simple moving average of $126.56 and a 200 day simple moving average of $126.89. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results 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). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the firm posted $2.07 earnings per share. PPG Industries's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.17%. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.

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.