Point72 Asia Singapore Pte. Ltd. Buys Shares of 741 PPG Industries, Inc. (NYSE:PPG)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 741 shares of the specialty chemicals company’s stock, valued at approximately $93,000.

A number of other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in PPG Industries by 49.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 28,345 shares of the specialty chemicals company’s stock valued at $4,239,000 after acquiring an additional 9,384 shares during the last quarter. Vest Financial LLC lifted its position in shares of PPG Industries by 28.9% during the second quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after purchasing an additional 75,620 shares during the last quarter. BDF Gestion acquired a new position in PPG Industries in the second quarter worth about $3,452,000. State Board of Administration of Florida Retirement System increased its holdings in PPG Industries by 8.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock valued at $36,620,000 after buying an additional 22,079 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PPG shares. Royal Bank of Canada decreased their target price on 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. Barclays decreased 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 report on Monday, July 22nd. UBS Group raised their price target on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. BMO Capital Markets decreased their price target on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, Citigroup cut their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Up 0.0 %

Shares of PPG Industries stock opened at $134.56 on Friday. 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 1-year low of $118.07 and a 1-year high of $151.16. The business’s fifty day moving average price is $125.61 and its two-hundred day moving average price is $130.50. The company has a market capitalization of $31.39 billion, a P/E ratio of 22.73, a PEG ratio of 1.73 and a beta of 1.26.

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

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.02%. PPG Industries’s dividend payout ratio (DPR) is 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.