DRW Securities LLC Invests $318,000 in PPG Industries, Inc. (NYSE:PPG)

DRW Securities LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,518 shares of the specialty chemicals company’s stock, valued at approximately $318,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PPG. Vanguard Group Inc. raised its stake in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Putnam Investments LLC increased its holdings in PPG Industries by 3.1% during the fourth quarter. Putnam Investments LLC now owns 2,659,974 shares of the specialty chemicals company’s stock worth $397,799,000 after buying an additional 81,200 shares during the last quarter. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Boston Partners grew its position in shares of PPG Industries by 4.9% in the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock valued at $248,172,000 after acquiring an additional 80,710 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of PPG Industries by 12.2% in the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock valued at $176,751,000 after acquiring an additional 152,719 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets cut their target price on shares of PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Barclays decreased their target price on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, July 22nd. Royal Bank of Canada cut 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. 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. Finally, UBS Group lifted their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.08.

PPG Industries Stock Performance

Shares of PPG stock opened at $127.30 on Tuesday. The business’s 50-day moving average price is $125.64 and its 200-day moving average price is $130.64. The firm has a market capitalization of $29.85 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.72 and a beta of 1.26. PPG Industries, Inc. has a 12 month low of $118.07 and a 12 month high of $151.16. 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 announced its quarterly earnings results 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. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.25 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The business 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 was Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. PPG Industries’s dividend payout ratio is presently 45.95%.

About PPG Industries

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.