Quarry LP Has $137,000 Stake in PPG Industries, Inc. (NYSE:PPG)

Quarry LP lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 807.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089 shares of the specialty chemicals company’s stock after buying an additional 969 shares during the period. Quarry LP’s holdings in PPG Industries were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter worth $25,000. LifeSteps Financial Inc. bought a new stake in PPG Industries during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. acquired a new position in shares of PPG Industries during the 1st quarter worth about $29,000. Richardson Financial Services Inc. bought a new position in shares of PPG Industries in the 4th quarter valued at about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of PPG Industries in the first quarter valued at about $34,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada reduced their price target 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 cut their price objective on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. KeyCorp lowered their target price on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Bank of America cut their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note 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 stock a “neutral” rating in a research note on Friday, July 19th. Six investment 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, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Trading Down 1.6 %

Shares of PPG stock opened at $132.46 on Tuesday. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a market capitalization of $30.90 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The firm has a 50 day moving average price of $125.69 and a two-hundred day moving average price of $130.30. 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 (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same period last year, the firm posted $2.25 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is presently 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.