ProShare Advisors LLC Boosts Holdings in PPG Industries, Inc. (NYSE:PPG)

ProShare Advisors LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,404,015 shares of the specialty chemicals company’s stock after purchasing an additional 152,719 shares during the period. ProShare Advisors LLC owned approximately 0.60% of PPG Industries worth $176,751,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PPG. Gryphon Financial Partners LLC increased its stake in 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 worth $727,000 after acquiring an additional 81 shares during the last quarter. Commerce Bank increased its position in shares of PPG Industries by 4.0% in the fourth quarter. Commerce Bank now owns 29,261 shares of the specialty chemicals company’s stock worth $4,376,000 after purchasing an additional 1,131 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in PPG Industries by 11.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 268,183 shares of the specialty chemicals company’s stock valued at $40,107,000 after purchasing an additional 28,235 shares in the last quarter. Intech Investment Management LLC lifted its position in PPG Industries by 133.2% during the fourth quarter. Intech Investment Management LLC now owns 30,070 shares of the specialty chemicals company’s stock valued at $4,497,000 after purchasing an additional 17,175 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in PPG Industries by 9.7% in the 4th quarter. Hsbc Holdings PLC now owns 523,616 shares of the specialty chemicals company’s stock worth $78,418,000 after buying an additional 46,149 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPG. Royal Bank of Canada lowered 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. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets dropped 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. Finally, Barclays reduced their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

PPG Industries Trading Down 2.1 %

Shares of PPG opened at $126.50 on Friday. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year high of $151.16. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.72 and a beta of 1.26. The firm’s 50-day moving average price is $125.71 and its 200-day moving average price is $130.80. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last posted its 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. 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 the consensus estimate of $4.93 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that PPG Industries, Inc. will post 8.25 EPS for the current 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 issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, August 12th. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. 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.