PPG Industries, Inc. (NYSE:PPG) Stock Holdings Lifted by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its stake in PPG Industries, Inc. (NYSE:PPG) by 7.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,692 shares of the specialty chemicals company’s stock after acquiring an additional 1,425 shares during the period. iA Global Asset Management Inc.’s holdings in PPG Industries were worth $2,479,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PPG. Vanguard Group Inc. raised its stake in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after purchasing an additional 4,222,402 shares during the period. Norges Bank purchased a new stake in PPG Industries in the 4th quarter worth approximately $554,685,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PPG Industries by 37.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,839,000 shares of the specialty chemicals company’s stock valued at $270,876,000 after buying an additional 496,998 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 30.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,768,094 shares of the specialty chemicals company’s stock valued at $264,424,000 after acquiring an additional 417,145 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of PPG Industries by 549.0% during the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PPG. BMO Capital Markets reduced their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada dropped their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 23rd. Finally, UBS Group lifted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Up 0.7 %

PPG Industries stock opened at $129.73 on Friday. The firm has a market cap of $30.42 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a fifty day moving average price of $125.51 and a two-hundred day moving average price of $132.37.

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

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio is currently 45.95%.

PPG Industries Company 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.