PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Caprock Group LLC

Caprock Group LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 81.3% during the second quarter, HoldingsChannel reports. The firm owned 8,471 shares of the specialty chemicals company’s stock after buying an additional 3,799 shares during the period. Caprock Group LLC’s holdings in PPG Industries were worth $1,066,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PPG. Private Wealth Management Group LLC purchased a new position in shares of PPG Industries during the fourth quarter worth about $27,000. Richardson Financial Services Inc. purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new position in shares of PPG Industries in the first quarter valued at approximately $29,000. YHB Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the first quarter worth approximately $29,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth $25,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

PPG Industries stock opened at $125.89 on Wednesday. The firm has a market capitalization of $29.52 billion, a PE ratio of 21.27, a P/E/G ratio of 1.68 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 firm’s 50-day simple moving average is $125.67 and its 200 day simple moving average is $131.49. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73.

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

PPG Industries Increases Dividend

The business also recently declared 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 a $2.72 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, August 12th. PPG Industries’s payout ratio is 45.95%.

Analysts Set New Price Targets

PPG has been the subject of a number of analyst reports. Barclays cut their price objective on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada reduced 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 report on Tuesday, July 23rd. Bank of America dropped their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. UBS Group raised their price target on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, BMO Capital Markets decreased their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.