Founders Financial Securities LLC Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

Founders Financial Securities LLC increased its position in PPG Industries, Inc. (NYSE:PPG) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,993 shares of the specialty chemicals company’s stock after purchasing an additional 427 shares during the period. Founders Financial Securities LLC’s holdings in PPG Industries were worth $1,006,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Private Wealth Management Group LLC acquired a new position in PPG Industries during the fourth quarter worth approximately $27,000. Richardson Financial Services Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $29,000. LifeSteps Financial Inc. purchased a new stake in PPG Industries in the 1st quarter valued at $29,000. YHB Investment Advisors Inc. acquired a new stake in PPG Industries during the 1st quarter worth $29,000. Finally, Financial Connections Group Inc. purchased a new position in PPG Industries during the 2nd quarter worth $25,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PPG has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Citigroup decreased their price objective 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. UBS Group boosted their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. KeyCorp lowered 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 report on Monday, July 22nd. Finally, Barclays reduced their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Down 1.0 %

PPG stock opened at $126.67 on Thursday. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company has a market cap of $29.70 billion, a P/E ratio of 21.40, a P/E/G ratio of 1.75 and a beta of 1.26. The company’s 50-day moving average price is $125.62 and its 200 day moving average price is $132.04.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. PPG Industries’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. On average, research analysts expect that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be issued a dividend of $0.68 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

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.