PFG Investments LLC Raises Holdings in PPG Industries, Inc. (NYSE:PPG)

PFG Investments LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 9.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,148 shares of the specialty chemicals company’s stock after purchasing an additional 189 shares during the period. PFG Investments LLC’s holdings in PPG Industries were worth $270,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gryphon Financial Partners LLC lifted its holdings in shares of PPG Industries by 1.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,864 shares of the specialty chemicals company’s stock valued at $727,000 after acquiring an additional 81 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of PPG Industries by 7.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,278 shares of the specialty chemicals company’s stock valued at $1,687,000 after acquiring an additional 821 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of PPG Industries by 37.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 16,187 shares of the specialty chemicals company’s stock valued at $2,421,000 after acquiring an additional 4,383 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of PPG Industries by 9.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,818 shares of the specialty chemicals company’s stock valued at $1,468,000 after acquiring an additional 850 shares during the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in shares of PPG Industries in the 4th quarter valued at about $246,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PPG shares. 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 report on Friday, July 19th. Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. BMO Capital Markets decreased their price objective 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 shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America decreased their price objective 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. Six investment 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 an average rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Performance

PPG Industries stock opened at $126.98 on Friday. The company has a 50 day moving average price of $125.73 and a 200-day moving average price of $131.30. 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, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a market capitalization of $29.78 billion, a PE ratio of 21.45, a P/E/G ratio of 1.69 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly 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 firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current 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 dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.14%. This is a positive change 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.