Daiwa Securities Group Inc. Increases Stake in PPG Industries, Inc. (NYSE:PPG)

Daiwa Securities Group Inc. increased its stake in PPG Industries, Inc. (NYSE:PPG) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,622 shares of the specialty chemicals company’s stock after buying an additional 3,018 shares during the period. Daiwa Securities Group Inc.’s holdings in PPG Industries were worth $3,603,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Vanguard Group Inc. raised its position in shares of PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Norges Bank purchased a new stake in PPG Industries in the fourth quarter worth $554,685,000. Putnam Investments LLC raised its holdings in PPG Industries by 3.1% in the fourth quarter. Putnam Investments LLC now owns 2,659,974 shares of the specialty chemicals company’s stock worth $397,799,000 after purchasing an additional 81,200 shares in the last quarter. Boston Partners lifted its position in PPG Industries by 4.9% during the first quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after buying an additional 80,710 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of PPG Industries by 1.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,287,925 shares of the specialty chemicals company’s stock valued at $192,609,000 after buying an additional 17,767 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the subject of several research reports. UBS Group lifted their price target on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Bank of America lowered their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, BMO Capital Markets cut their target price 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Trading Down 0.0 %

PPG Industries stock opened at $125.49 on Friday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The business’s fifty day moving average is $125.70 and its 200 day moving average is $131.40. The stock has a market capitalization of $29.43 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.68 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 (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 analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter last year, the firm posted $2.25 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is 45.95%.

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.