MBB Public Markets I LLC Acquires Shares of 16,447 PPG Industries, Inc. (NYSE:PPG)

MBB Public Markets I LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,447 shares of the specialty chemicals company’s stock, valued at approximately $2,071,000.

Other hedge funds also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of PPG Industries by 49.5% in 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 buying an additional 9,384 shares during the period. Vest Financial LLC increased its position in shares of PPG Industries by 28.9% in 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 period. BDF Gestion bought a new stake in shares of PPG Industries during the 2nd quarter worth approximately $3,452,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of PPG Industries by 8.8% in the 1st 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 purchasing an additional 22,079 shares in 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 worth $4,159,074,000 after acquiring an additional 4,222,402 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

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

PPG Industries Stock Up 0.0 %

PPG stock opened at $134.56 on Monday. The company has a market capitalization of $31.39 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The business’s 50 day moving average price is $125.61 and its two-hundred day moving average price is $130.35. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last posted 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 EPS. As a group, analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

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