Acadian Asset Management LLC Has $818,000 Holdings in PPG Industries, Inc. (NYSE:PPG)

Acadian Asset Management LLC raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 2,153.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,512 shares of the specialty chemicals company’s stock after acquiring an additional 6,223 shares during the period. Acadian Asset Management LLC’s holdings in PPG Industries were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Connections Group Inc. bought a new stake in PPG Industries during the 2nd quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new stake in shares of PPG Industries during the first quarter worth $29,000. YHB Investment Advisors Inc. acquired a new stake in shares of PPG Industries during the first quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in PPG Industries in the 4th quarter valued at $29,000. Finally, Riverview Trust Co acquired a new position in PPG Industries in the 1st quarter worth $34,000. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PPG. BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Citigroup cut their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Barclays decreased their price target 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. Royal Bank of Canada cut their price objective on shares of 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 target price on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Stock Up 0.3 %

PPG Industries stock opened at $127.32 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The firm has a market capitalization of $29.70 billion, a PE ratio of 21.51, a P/E/G ratio of 1.69 and a beta of 1.26. The company’s 50-day moving average is $125.74 and its 200-day moving average is $131.06. 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 (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.14%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s payout ratio 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.