Park Avenue Securities LLC Purchases 369 Shares of PPG Industries, Inc. (NYSE:PPG)

Park Avenue Securities LLC grew its position in PPG Industries, Inc. (NYSE:PPG) by 21.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,129 shares of the specialty chemicals company’s stock after purchasing an additional 369 shares during the period. Park Avenue Securities LLC’s holdings in PPG Industries were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vest Financial LLC raised its holdings in PPG Industries by 28.9% during the 2nd 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 last quarter. BDF Gestion acquired a new position in PPG Industries in the second quarter valued at approximately $3,452,000. State Board of Administration of Florida Retirement System boosted its stake in PPG Industries by 8.8% in the first 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 acquiring an additional 22,079 shares during the last quarter. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 4,222,402 shares during the period. Finally, Perpetual Ltd raised its position in shares of PPG Industries by 416.5% during the 1st quarter. Perpetual Ltd now owns 7,365 shares of the specialty chemicals company’s stock valued at $1,067,000 after acquiring an additional 5,939 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.7 %

Shares of PPG Industries stock opened at $128.25 on Monday. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-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. The business’s 50 day simple moving average is $126.09 and its 200 day simple moving average is $129.47. The firm has a market cap of $30.07 billion, a PE ratio of 21.66, a P/E/G ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. On average, analysts predict that PPG Industries, Inc. will post 8.24 earnings per share for the current fiscal 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 given a $0.68 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays reduced their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada lowered their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 23rd. KeyCorp reduced their price objective on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Bank of America lowered their target price 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, Citigroup reduced their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report 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 MarketBeat.com, the company currently has a consensus 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.