PPG Industries, Inc. (NYSE:PPG) Shares Bought by Marathon Capital Management

Marathon Capital Management raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,732 shares of the specialty chemicals company’s stock after acquiring an additional 128 shares during the quarter. Marathon Capital Management’s holdings in PPG Industries were worth $218,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PPG. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $276,576,000 after buying an additional 368,410 shares during the last quarter. Federated Hermes Inc. boosted its position 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 worth $65,905,000 after buying an additional 249,406 shares in the last quarter. SG Americas Securities LLC grew its stake in PPG Industries by 549.0% in the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock valued at $32,246,000 after acquiring an additional 216,675 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in PPG Industries in the 1st quarter valued at about $31,033,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $134.54 on Friday. The business has a 50-day moving average of $125.42 and a two-hundred day moving average of $130.53. The firm has a market capitalization of $31.39 billion, a PE ratio of 22.73, a P/E/G ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16.

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. As a group, research analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.02%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PPG. BMO Capital Markets lowered their price objective on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Barclays lowered their price objective on shares of 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. Citigroup lowered their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 23rd. Finally, Bank of America decreased 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. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.