International Assets Investment Management LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,261 shares of the specialty chemicals company’s stock, valued at approximately $302,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vontobel Holding Ltd. increased its holdings in shares of PPG Industries by 51.9% in the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock valued at $797,000 after purchasing an additional 2,048 shares in the last quarter. Sei Investments Co. increased its stake in shares of PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after buying an additional 3,025 shares during the period. Prudential PLC bought a new stake in shares of PPG Industries during the first quarter worth $619,000. Vanguard Group Inc. lifted its stake in shares of PPG Industries by 1.3% during the first quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after acquiring an additional 252,358 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in PPG Industries by 7.1% in the first quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after acquiring an additional 1,283 shares during the last quarter. 78.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PPG. Royal Bank of Canada upped their target price on shares of PPG Industries from $143.00 to $145.00 in a research report on Monday, April 24th. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $130.00 to $156.00 in a report on Monday, April 24th. Mizuho increased their price target on PPG Industries from $142.00 to $151.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. KeyCorp lifted their price objective on PPG Industries from $162.00 to $169.00 in a research note on Monday, April 24th. Finally, Credit Suisse Group raised their target price on PPG Industries from $128.00 to $133.00 and gave the stock an “underperform” rating in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.18.
PPG Industries Trading Up 0.5 %
PPG Industries (NYSE:PPG – Free Report) last issued its quarterly earnings results on Friday, April 21st. The specialty chemicals company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.27. PPG Industries had a return on equity of 23.35% and a net margin of 7.18%. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.25 EPS for the current fiscal year.
PPG Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th were issued a $0.62 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.66%. PPG Industries’s dividend payout ratio (DPR) is presently 46.27%.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.
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