MidWestOne Financial Group Inc. Increases Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

MidWestOne Financial Group Inc. boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 27.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122 shares of the specialty chemicals company’s stock after purchasing an additional 454 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in PPG Industries were worth $267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Scientech Research LLC purchased a new stake in PPG Industries in the second quarter valued at approximately $1,043,000. Mackenzie Financial Corp raised its stake in PPG Industries by 25.7% in the second quarter. Mackenzie Financial Corp now owns 215,436 shares of the specialty chemicals company’s stock valued at $27,121,000 after purchasing an additional 44,088 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in PPG Industries by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 147,118 shares of the specialty chemicals company’s stock valued at $18,521,000 after purchasing an additional 6,012 shares in the last quarter. Marathon Capital Management raised its stake in PPG Industries by 8.0% in the second quarter. Marathon Capital Management now owns 1,732 shares of the specialty chemicals company’s stock valued at $218,000 after purchasing an additional 128 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in PPG Industries in the second quarter valued at approximately $2,071,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.0 %

PPG opened at $134.56 on Friday. PPG Industries, Inc. has a one year low of $118.07 and a one year high of $151.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.49 and a quick ratio of 1.05. The business has a 50 day simple moving average of $125.61 and a two-hundred day simple moving average of $130.43. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.73 and a beta of 1.26.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share 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 analysts’ expectations of $4.93 billion. During the same quarter last year, the business posted $2.25 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Analysts predict that PPG Industries, Inc. will post 8.25 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were issued a $0.68 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.72 annualized dividend and a yield of 2.02%. This is a boost from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group raised their target price on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Citigroup reduced their price target on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Royal Bank of Canada reduced their price target 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. 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. 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.08.

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.