PPG Industries, Inc. (NYSE:PPG) Shares Bought by MQS Management LLC

MQS Management LLC raised its stake in PPG Industries, Inc. (NYSE:PPG) by 26.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,376 shares of the specialty chemicals company’s stock after purchasing an additional 1,347 shares during the quarter. PPG Industries accounts for 0.5% of MQS Management LLC’s investment portfolio, making the stock its 24th biggest holding. MQS Management LLC’s holdings in PPG Industries were worth $803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in PPG Industries by 17.2% in the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock valued at $4,159,074,000 after buying an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after acquiring an additional 368,410 shares during the period. Federated Hermes Inc. increased its stake in shares of PPG Industries by 91.0% during the second quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company’s stock worth $65,905,000 after acquiring an additional 249,406 shares during the period. SG Americas Securities LLC raised its holdings in PPG Industries by 549.0% during the second quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company’s stock worth $32,246,000 after purchasing an additional 216,675 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in PPG Industries in the first quarter valued at about $31,033,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $127.46 on Thursday. 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, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The stock has a market cap of $29.89 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The firm has a 50 day simple moving average of $125.80 and a 200-day simple moving average of $130.95.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were paid a dividend of $0.68 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. This represents a $2.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Monday, August 12th. PPG Industries’s dividend payout ratio (DPR) is currently 45.95%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PPG. Barclays dropped their target price 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. Citigroup cut 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 shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Royal Bank of Canada cut 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. Finally, Bank of America decreased their price objective on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Company 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.