Los Angeles Capital Management LLC Decreases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Los Angeles Capital Management LLC decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 88.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,834 shares of the specialty chemicals company’s stock after selling 14,552 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PPG Industries were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Richardson Financial Services Inc. bought a new stake in shares of PPG Industries during the 4th quarter valued at about $29,000. LifeSteps Financial Inc. bought a new position in shares of PPG Industries during the 1st quarter valued at approximately $29,000. YHB Investment Advisors Inc. bought a new position in shares of PPG Industries during the 1st quarter valued at approximately $29,000. Financial Connections Group Inc. bought a new position in shares of PPG Industries during the 2nd quarter valued at approximately $25,000. Finally, Riverview Trust Co bought a new position in shares of PPG Industries during the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. KeyCorp cut their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Citigroup cut their price objective on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays lowered their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. UBS Group boosted their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Up 1.2 %

NYSE PPG opened at $126.98 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49. The company has a market capitalization of $29.78 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.69 and a beta of 1.26. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The stock has a 50 day moving average price of $125.73 and a 200-day moving average price of $131.16.

PPG Industries (NYSE:PPG) last posted its earnings results 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.25 EPS. As a group, equities 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 was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a $0.68 dividend. 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. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. PPG Industries’s dividend payout ratio (DPR) is currently 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.