Perpetual Ltd Has $278,000 Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Perpetual Ltd lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 64.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the specialty chemicals company’s stock after selling 3,759 shares during the period. Perpetual Ltd’s holdings in PPG Industries were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $45,000. V Square Quantitative Management LLC boosted its position in shares of PPG Industries by 31.0% in the fourth quarter. V Square Quantitative Management LLC now owns 4,405 shares of the specialty chemicals company’s stock valued at $659,000 after acquiring an additional 1,043 shares during the period. Virtu Financial LLC bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $567,000. Syon Capital LLC boosted its position in shares of PPG Industries by 7.9% in the fourth quarter. Syon Capital LLC now owns 2,501 shares of the specialty chemicals company’s stock valued at $374,000 after acquiring an additional 183 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in shares of PPG Industries in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PPG. Citigroup reduced their target price 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. Barclays reduced their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets reduced their target price on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, UBS Group raised their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Performance

PPG Industries stock opened at $128.25 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The stock has a fifty day moving average price of $126.09 and a two-hundred day moving average price of $129.58. PPG Industries, Inc. has a 52-week low of $118.07 and a 52-week high of $151.16. The firm has a market capitalization of $29.92 billion, a P/E ratio of 21.02, a P/E/G ratio of 1.72 and a beta of 1.26.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same period last year, the company posted $2.25 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that PPG Industries, Inc. will post 8.24 EPS for the current fiscal 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 paid a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.12%. PPG Industries’s dividend payout ratio (DPR) is 44.59%.

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.