PPG Industries, Inc. (NYSE:PPG) Shares Purchased by Marshall Wace LLP

Marshall Wace LLP increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 42.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,661 shares of the specialty chemicals company’s stock after purchasing an additional 17,828 shares during the quarter. Marshall Wace LLP’s holdings in PPG Industries were worth $7,511,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FinTrust Capital Advisors LLC lifted its holdings in PPG Industries by 38.6% during the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 76 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in PPG Industries by 0.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock valued at $1,204,000 after buying an additional 76 shares in the last quarter. SYSTM Wealth Solutions LLC increased its stake in PPG Industries by 4.2% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,013 shares of the specialty chemicals company’s stock worth $292,000 after buying an additional 82 shares in the last quarter. Applied Capital LLC FL raised its holdings in shares of PPG Industries by 1.3% during the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock valued at $928,000 after acquiring an additional 82 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Citigroup dropped their price target on PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada reduced their target price on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. KeyCorp lowered 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. UBS Group increased their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Bank of America lowered their target price on PPG Industries from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $151.08.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $132.46 on Tuesday. The firm has a market cap of $30.90 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. PPG Industries, Inc. has a 52 week low of $118.07 and a 52 week high of $151.16. The business’s fifty day simple moving average is $125.69 and its 200-day simple moving average is $130.30.

PPG Industries (NYSE:PPG) last announced its earnings results 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. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.93 billion. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.25 earnings per share. Equities analysts forecast that PPG Industries, Inc. will post 8.25 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.05%. PPG Industries’s payout ratio is presently 45.95%.

PPG Industries Profile

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.