Crossmark Global Holdings Inc. sell 480 shares of PPG Industries, Inc. (NYSE:PPG)

Crossmark Global Holdings Inc. reduced its stake in PPG Industries, Inc. (NYSE:PPG – Free Report) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,560 shares of the specialty chemicals company’s stock after selling 480 shares during the period. The holdings of Crossmark Global Holdings Inc. in PPG Industries were worth $1,455,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV grew its holdings in PPG Industries by 4.8% during the second quarter. Nations Financial Group Inc. IA ADV now owns 5,387 shares of the specialty chemicals company’s stock valued at $678,000 after purchasing an additional 247 shares in the last quarter. UMB Bank na increased its position in shares of PPG Industries by 1.6% during the 2nd quarter. UMB Bank na now owns 14,172 shares of the specialty chemicals company’s stock valued at $1,784,000 after buying an additional 221 shares. of shares in the respective period. FM Investments LLC purchased a new position in shares of PPG Industries in the second quarter valued at $293,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in PPG Industries by 5.1% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 59,171 shares of the specialty chemicals company’s stock valued at $7,449,000 after purchasing an additional 2,876 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in PPG Industries by 63.8% in the second quarter. Arkadios Wealth Advisors now owns 3,549 shares of the specialty chemicals company’s stock worth $447,000 after purchasing an additional 1,382 shares during the last quarter. 81.86% of shares are currently owned by institutional investors.

Changes in Analyst Ratings

Several equities analysts recently commented on the company. BMO Capital Markets reduced their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. UBS Group upped their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. Barclays cut their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada dropped their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Finally, KeyCorp cut their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08, based on data from MarketBeat.

Get the latest report on PPG Industries

PPG Industries trading rose 0.7%

PPG opened at $129.72 on Friday. PPG Industries, Inc. it has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05, and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $125.49 and a 200-day moving average of $132.45. The firm has a market cap of $30.42 billion, a P/E ratio of 21.91, a P/E/G ratio of 1.65 and a beta of 1.26.

PPG Industries (NYSE:PPG – Get Your Free Report ) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. In the same quarter last year, the company posted EPS of $2.25. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Raises Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a $0.68 dividend. This represents an annualized dividend of $2.72 and a dividend yield of 2.10%. The ex-dividend date is Monday, August 12. This is a positive change from PPG Industries’ previous quarterly dividend of $0.65. PPG Industries’ dividend payout ratio (DPR) is 45.95%.

About PPG Industries

(Free report)

PPG Industries, Inc manufactures and distributes paints, coatings and specialty materials in the United States, Canada, 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/fleet repair and reconditioning, light industrial coatings and specialty sign coatings; wood stains; paints, thermoplastics, pavement marking products and other advanced pavement marking technologies for government, commercial infrastructure, painting and maintenance contractors; and coatings, sealants, clear films, clear armors, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional, and general aviation aircraft.

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