Envestnet Asset Management Inc. Purchases 1,697 Shares of PPG Industries, Inc. (NYSE:PPG)

Envestnet Asset Management Inc. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,755 shares of the specialty chemicals company’s stock after purchasing an additional 1,697 shares during the period. Envestnet Asset Management Inc. owned 0.11% of PPG Industries worth $27,311,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in PPG Industries during the fourth quarter worth about $26,000. CVA Family Office LLC increased its holdings in PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in PPG Industries during the fourth quarter worth about $36,000. Beacon Capital Management LLC increased its holdings in PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 101 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in PPG Industries during the fourth quarter worth about $46,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPG. Citigroup lifted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Wells Fargo & Company lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. UBS Group lifted their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.83.

PPG Industries Price Performance

PPG stock opened at $116.40 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.35 and a quick ratio of 0.99. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock has a market cap of $26.42 billion, a PE ratio of 24.93, a P/E/G ratio of 2.46 and a beta of 1.16. The firm has a 50 day simple moving average of $112.63 and a two-hundred day simple moving average of $112.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. PPG Industries had a net margin of 6.49% and a return on equity of 24.84%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the previous year, the company earned $1.87 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a $0.68 dividend. The ex-dividend date was Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.34%. PPG Industries’s dividend payout ratio (DPR) is 58.24%.

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.