Czech National Bank Has $6.30 Million Stock Holdings in PPG Industries, Inc. (NYSE:PPG)

Czech National Bank raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,525 shares of the specialty chemicals company’s stock after acquiring an additional 2,674 shares during the period. Czech National Bank’s holdings in PPG Industries were worth $6,295,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Rafferty Asset Management LLC raised its stake in PPG Industries by 3.1% in the 4th quarter. Rafferty Asset Management LLC now owns 20,858 shares of the specialty chemicals company’s stock worth $3,119,000 after purchasing an additional 631 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of PPG Industries by 1.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,287,925 shares of the specialty chemicals company’s stock valued at $192,609,000 after buying an additional 17,767 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of PPG Industries by 369.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 34,681 shares of the specialty chemicals company’s stock valued at $5,187,000 after buying an additional 27,291 shares during the period. Stephens Inc. AR grew its position in PPG Industries by 8.6% during the fourth quarter. Stephens Inc. AR now owns 11,772 shares of the specialty chemicals company’s stock worth $1,760,000 after buying an additional 931 shares in the last quarter. Finally, Security National Bank bought a new position in PPG Industries during the 4th quarter worth $37,000. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. UBS Group upped their target price on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th. KeyCorp decreased their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Bank of America lowered their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets reduced their price objective on PPG Industries from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and an average price target of $151.08.

PPG Industries Stock Up 0.6 %

PPG Industries stock opened at $128.57 on Friday. The firm has a market capitalization of $30.15 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.26. The firm’s fifty day moving average price is $125.94 and its two-hundred day moving average price is $130.08. PPG Industries, Inc. has a 1-year low of $118.07 and a 1-year 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 posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $2.25 earnings per share. On average, equities research analysts predict that PPG Industries, Inc. will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a $0.68 dividend. This is a positive change 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 yield of 2.12%. PPG Industries’s payout ratio is currently 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.