Point72 Asia Singapore Pte. Ltd. Takes $93,000 Position in PPG Industries, Inc. (NYSE:PPG)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, Holdings Channel reports. The firm acquired 741 shares of the specialty chemicals company’s stock, valued at approximately $93,000.

Several other large investors also recently modified their holdings of PPG. Vanguard Group Inc. increased its holdings in shares of PPG Industries by 17.2% in 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 purchasing an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock valued at $65,905,000 after buying an additional 249,406 shares during the period. SG Americas Securities LLC raised its position in shares of PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after acquiring an additional 216,675 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of PPG Industries during the first quarter valued at $31,033,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PPG. UBS Group lifted their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. 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 for the company in a research note on Tuesday, July 23rd. 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. Bank of America cut their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, BMO Capital Markets decreased 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. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Price Performance

NYSE PPG opened at $128.57 on Friday. The firm’s 50 day moving average is $125.94 and its 200-day moving average is $130.16. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $30.00 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.48 by $0.02. The firm 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 for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.12%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

PPG Industries 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.