PPG Industries, Inc. (NYSE:PPG) Position Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,827 shares of the specialty chemicals company’s stock after buying an additional 25,396 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of PPG Industries worth $20,281,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PPG. Wealthfront Advisers LLC raised its stake in PPG Industries by 204.9% during the first quarter. Wealthfront Advisers LLC now owns 34,389 shares of the specialty chemicals company’s stock worth $4,594,000 after acquiring an additional 23,109 shares during the period. WBH Advisory Inc. bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $374,000. Webster Bank N. A. boosted its position in PPG Industries by 22.3% during the 1st quarter. Webster Bank N. A. now owns 658 shares of the specialty chemicals company’s stock valued at $88,000 after purchasing an additional 120 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in PPG Industries by 63.9% during the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 11,986 shares of the specialty chemicals company’s stock worth $1,601,000 after buying an additional 4,671 shares during the last quarter. Finally, Strategic Investment Advisors MI increased its position in PPG Industries by 15.1% in the first quarter. Strategic Investment Advisors MI now owns 2,023 shares of the specialty chemicals company’s stock worth $270,000 after buying an additional 266 shares during the period. Institutional investors own 79.18% of the company’s stock.

Insider Activity

In other PPG Industries news, Chairman Michael H. Mcgarry sold 58,378 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $145.46, for a total transaction of $8,491,663.88. Following the completion of the sale, the chairman now directly owns 195,706 shares in the company, valued at approximately $28,467,394.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Vincent J. Morales sold 3,700 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $143.33, for a total transaction of $530,321.00. Following the transaction, the chief financial officer now directly owns 22,665 shares in the company, valued at approximately $3,248,574.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Michael H. Mcgarry sold 58,378 shares of the stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $145.46, for a total value of $8,491,663.88. Following the sale, the chairman now owns 195,706 shares of the company’s stock, valued at $28,467,394.76. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

PPG Industries Trading Up 0.2 %

Shares of NYSE PPG opened at $142.01 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 12 month low of $107.40 and a 12 month high of $152.89. The company has a market cap of $33.44 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 1.11 and a beta of 1.18. The business has a fifty day simple moving average of $143.90 and a 200-day simple moving average of $138.32.

PPG Industries (NYSE:PPG) last announced its earnings results on Friday, July 21st. The specialty chemicals company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.14 by $0.11. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.84 billion. PPG Industries had a net margin of 7.38% and a return on equity of 23.59%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.81 earnings per share. Sell-side analysts predict that PPG Industries, Inc. will post 7.51 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Thursday, August 10th will be issued a $0.65 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.62. PPG Industries’s dividend payout ratio is presently 46.68%.

Analysts Set New Price Targets

Several research firms have commented on PPG. Morgan Stanley upped their target price on shares of PPG Industries from $143.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Royal Bank of Canada lifted their target price on PPG Industries from $145.00 to $158.00 and gave the company a “sector perform” rating in a research note on Monday, July 24th. KeyCorp increased their price target on PPG Industries from $171.00 to $172.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Mizuho upped their price objective on shares of PPG Industries from $152.00 to $166.00 in a report on Thursday, July 20th. Finally, Wells Fargo & Company lowered their target price on shares of PPG Industries from $150.00 to $145.00 in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $156.47.

PPG Industries 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.