PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Blair William & Co. IL

Blair William & Co. IL raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,127 shares of the specialty chemicals company’s stock after purchasing an additional 1,657 shares during the quarter. Blair William & Co. IL’s holdings in PPG Industries were worth $4,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the second quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new position in PPG Industries during the 1st quarter valued at $29,000. YHB Investment Advisors Inc. acquired a new position in PPG Industries during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth about $29,000. Finally, Riverview Trust Co acquired a new stake in shares of PPG Industries in the 1st quarter valued at about $34,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 2.1 %

Shares of NYSE:PPG opened at $126.50 on Friday. 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 quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The company has a market cap of $29.51 billion, a PE ratio of 21.37, a P/E/G ratio of 1.72 and a beta of 1.26. The company’s 50-day moving average price is $125.71 and its 200 day moving average price is $130.80.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 12th were paid a $0.68 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. PPG Industries’s dividend payout ratio is presently 45.95%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PPG shares. BMO Capital Markets decreased their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada lowered their price target on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Citigroup reduced their price objective 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 lowered 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. Finally, KeyCorp reduced their price target 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. 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 company currently has a consensus rating of “Moderate Buy” and an average 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.