4,559 Shares in PPG Industries, Inc. (NYSE:PPG) Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,559 shares of the specialty chemicals company’s stock, valued at approximately $604,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of PPG Industries by 17.2% during 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 buying an additional 4,222,402 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PPG Industries by 20.1% during 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 acquiring an additional 368,410 shares in the last quarter. Boston Partners raised 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 worth $248,172,000 after acquiring an additional 80,710 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of PPG Industries by 12.2% in the second quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after purchasing an additional 152,719 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of PPG Industries by 9.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock valued at $162,862,000 after purchasing an additional 100,391 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 1.1 %

Shares of PPG stock opened at $129.91 on Wednesday. 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, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm’s 50 day moving average price is $126.49 and its two-hundred day moving average price is $129.25. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the business posted $2.25 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that PPG Industries, Inc. will post 8.24 EPS for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were issued a dividend of $0.68 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is presently 45.95%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America reduced 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. KeyCorp decreased their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. UBS Group lifted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, BMO Capital Markets lowered their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

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.