AE Wealth Management LLC Purchases 1,089 Shares of PPG Industries, Inc. (NYSE:PPG)

AE Wealth Management LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 60.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,880 shares of the specialty chemicals company’s stock after acquiring an additional 1,089 shares during the period. AE Wealth Management LLC’s holdings in PPG Industries were worth $363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC boosted its holdings in shares of PPG Industries by 1.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock worth $727,000 after buying an additional 81 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in shares of PPG Industries by 3.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,897 shares of the specialty chemicals company’s stock worth $2,078,000 after buying an additional 528 shares during the period. TD Asset Management Inc boosted its holdings in shares of PPG Industries by 5.4% during the 4th quarter. TD Asset Management Inc now owns 96,605 shares of the specialty chemicals company’s stock worth $14,447,000 after buying an additional 4,974 shares during the period. Treasurer of the State of North Carolina boosted its holdings in shares of PPG Industries by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 104,164 shares of the specialty chemicals company’s stock worth $15,578,000 after buying an additional 1,020 shares during the period. Finally, Scotia Capital Inc. boosted its holdings in shares of PPG Industries by 3.3% during the 4th quarter. Scotia Capital Inc. now owns 2,938 shares of the specialty chemicals company’s stock worth $439,000 after buying an additional 93 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the subject of several research analyst reports. Citigroup reduced their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Bank of America cut their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp cut their price objective 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. BMO Capital Markets cut their price objective 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, UBS Group boosted their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $134.51 on Friday. The firm has a 50 day moving average of $125.48 and a 200-day moving average of $130.56. The stock has a market capitalization of $31.54 billion, a PE ratio of 22.72, a PEG ratio of 1.71 and a beta of 1.26. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. 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 earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.48 by $0.02. The company had revenue of $4.79 billion during 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 business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.25 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.02%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is currently 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.